Adidas expects World Cup to boost sales but warns of market turmoil in Russia, Argentina

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BERLIN – German sportswear maker Adidas expects the soccer World Cup will boost sales this year, but warned that volatility in the currencies of markets like Russia and Argentina will dampen results.

Adidas predicts sales to rise by a “high single digit” in 2014 when not counting the currency effects, after growing 3 per cent in 2013.

When including the currency shifts, however, it warned sales would be significantly lower, after a 3 per cent drop last year.

Adidas shares were down 1.4 per cent in morning trading.

The company said Wednesday it made net income of 787 million euros ($1.08 billion) in 2013, a 6 per cent rise. In the fourth quarter, it made a profit of 42 million euros when excluding one-time costs, compared with a loss of 7 million euros a year earlier.

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