Adidas sees Reebok India sales halving after biz rejig

Adidas expects its sales and customer base in India will halve there once it has completed restructuring the business after a fraud was uncovered there earlier this year.

“Revenues can even be less than half as we want to take only customers where we can build a healthy sustainable business,” Chief Executive Herbert Hainer told journalists during a conference call on Thursday.

[caption id=“attachment_519441” align=“alignleft” width=“380”] Reuters[/caption]

Chief Financial Officer Robin Stalker said Adidas had taken one-off charges of around 60 million euros related to the restructuring by the end of September with a further 10-15 million to follow in the fourth quarter.

They were speaking after Adidas slightly lowered its 2012 sales outlook earlier on Thursday on lower-than-expected sales at Reebok.

Reuters