While Adidas isn't going to fold-up and disappear anytime soon, the company hasn't enjoyed reading their financial reports lately. With news that they are going to have to put up a real fight to hold onto their deal with the German national team, there's now word that the purchase of rival Reebok wasn't the most inspired move. The sportswear giant missed their fourth-quarter profit estimates by about $6.6M, a miss some say is attributed to the declining demand for anything with a Reebok label on it.
Is that Phil Knight I hear laughing?
Nike challenges Adidas on its own turf [MSNBC]
Adidas: Stumbling over Reebok? [Business Week]