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STOCKS NEWS EUROPE-Adidas seen dropping after profit warning

Reuters - UK Focus

Shares in Adidas (LSE: 0OLD.L - news) are seen dropping 5.8 percent, according to pre-market data, after the German sports apparel maker warns on 2013 profit, traders say.

"While these near-term factors and mixed regional market trends will weigh on the third quarter, we find improving underlying profitability, Adidas (Xetra: A1EWWW - news) innovation, China momentum, World Cup 2014 sell-in and improving Reebok trends all still attractive," UBS (Berlin: UBRA.BE - news) analysts say, according to traders.

Adidas says adverse currency effects, a distribution problem in Russia and poor trading at its golf business mean its targets are no longer attainable.

Reuters messaging rm://maria.sheahan.thomsonreuters.com@reuters.net

rm://duy.truong.thomsonreuters.com@reuters.net