Frankfurt: German sportswear and equipment maker Adidas said Wednesday that its 2009 net profit plunged by 62% to €245 million ($334 million).
In the fourth quarter of the year, net profit fell by 64% to €19 million, the company added, well below an average analyst forecast of 25 million compiled by Dow Jones Newswires.
Adidas said sales this year were expected to gain between 1-6%, with the results and forecast demonstrating once again the tough conditions faced by retailers.