German sports giant Adidas is down 8 percent on the Frankfurt Stock Exchange after this morning's interim report. The reason for the decline is a sharp increase in marketing costs in connection with this summer's World Cup, a total of EUR 200 million more than the company spent on this in the same period last year.
As a result, operating profit stood at EUR 574 million, below market expectations.
A positive factor, however, is that in connection with the World Cup, the company sold four times as many jerseys and twice as many footballs as at the World Cup four years ago, according to Adidas.
However, the German company is not alone in struggling in the retail sector. Competitor Nike recently reported its lowest quarterly revenue figure in four years.
