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FRANKFURT, Sept 21 (Reuters) - Adidas slashed its 2015 sales target for its
struggling Reebok brand to 2 billion euros ($2.6 billion) from 3 billion euros after
losing a major American football contract and fraud was discovered at its Indian
operation.
The German company, the world's second-largest sports apparel company behind
Nike, bought Reebok in August 2005 for $3.8 billion. It enjoyed initial success with
a range of toning shoes, but has since struggled to find its feet.
Sales at Reebok slumped 26 percent in the second quarter and annual revenue is
expected to fall from 2011's 1.96 billion euros. Its performance contrasts sharply
with the rest of the Adidas group, which expects overall sales to rise nearly 10
percent in 2012.
Adidas Chief Executive Herbert Hainer has said that Reebok needs to come up
with new products and will focus on fitness categories such as keep-fit trend
Crossfit, running, gym, yoga and dance.
The company kept an overall target to increase group sales to 17 billion euros by
2015, with faster than expected growth at its Adidas brand and golf business
offsetting the weakness at Reebok.
Sales for the Adidas brand are now expected to reach 12.8 billion euros in 2015,
up 5 percent from the previous target of 12.2 billion euros.
Adidas shares, which have gained 30 percent this year as it takes market share
from rivals, touched a record high of 65.76 euros on Wednesday.
The company announced in April that it had uncovered commercial irregularities at
Reebok India and replaced management there. It said the fraud and a subsequent
restructuring of Indian operations would cost Adidas almost 200 million euros. The
unit's two former managers were arrested on Thursday in India on suspicion of
Las acciones de Adidas, que han ganado un 30 por ciento de valor este ao
mientras la firma gana cuota de mercado a expensas de sus rivales, alcanzaron un
mximo histrico de 65,76 euros el mircoles.
La compaa anunci en abril que haba descubierto irregularidades comerciales
en Reebok India y que reemplaz a la cpula directiva en esa filial. Adidas dijo que
el fraude y la consiguiente reestructuracin de las operaciones en India costara a
la empresa casi 200 millones de euros.
Los dos ex directores de la filial fueron arrestados el jueves en India bajo
sospecha de fraude.
Fuente: http://es.reuters.com/article/businessNews/idESMAE88K03O20120921