Adidas profits trip in third quarter

Adidas, the German maker of sportswear and equipment, said Thursday that profits were down in the third quarter due in part to exchange rate effects, but it is sticking to its full-year targets.
Adidas said in a statement that its net profit fell by 11 percent to 282 million euros ($352 million) in the period from July to September.
Underlying or operating profit fell by 12.7 percent to 405 million euros while sales grew by 6.2 percent to 4.118 billion euros.
"During the third quarter of 2014, the Adidas group continued to deliver robust top-line results," said chief executive Herbert Hainer.