Adidas Sees 2014 Profit Below Estimates as Currencies Weigh

Adidas AG forecast 2014 profit as much as 17 percent below analysts’ estimates as the weakness of currencies such as the Russian ruble and Argentine peso weighs on the world’s second-biggest sporting-goods maker.

Profit will be between 830 million euros ($1.14 billion) and 930 million euros this year, the Herzogenaurach, Germany-based company said today, falling short of the 1 billion-euro average estimate of 30 analysts compiled by Bloomberg. The crisis in Ukraine poses a further risk to the business, Chief Executive Officer Herbert Hainer said at a press conference.