Shares in Adidas edged lower in Frankfurt on Wednesday after the company posted full-year earnings slightly below analysts' expectations and the order backlog at its Reebok business also disappointed investors.
Adidas, the world's second-biggest sport goods maker, posted a 52% jump in 2006 sales on Wednesday to a record 10.08 billion euros ($13.23 billion) after enjoying a boom in replica shirt sales from the World Cup on its home turf.
But earnings before interest and tax (EBIT) of 881 million euros ($1.16 billion), were shy of analysts forecasts' or 897 million euros.
“The surprise is that order books are coming continuously under pressure not only for Reebok but also for Adidas,” Hans-Peter Wodniok, analyst at Fairesearch told “Worldwide Exchange.".