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Adidas Q1 sales flat, profit dives

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Tuesday, May 06, 2014

The German company had $4.9 billion in first-quarter sales; net income dropped 34% to $284 million.

Looking ahead, Adidas — with a North American headquarters based in North Portland — said this summer's World Cup will give the company a boost. Adidas is the official athletic supplier of the soccer tournament, the world's most-watched sporting event.

"While we still have to be wary of currencies and their effects on our financials, I expect a strong second quarter to point the way forward to a sustained period of growth and momentum for our (company)," Adidas CEO Herbert Hainer said in a news release.

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