Adidas Sales Growth Decelerates More Than Analysts Expected
- Shares drop as much as 3.8 percent in Frankfurt trading
- North America, China grow by double digits as Russia slips
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Even Adidas AG can stumble sometimes as it gains ground on sporting-goods market leader Nike Inc.
The German company’s growth slowed faster than analysts expected in the third quarter, sending the shares to their steepest drop in 12 weeks. Sales of basketball and soccer gear fell after sponsorship contracts ended and the company stepped up plans to trim its store network in Russia after business declined there.