By  on March 7, 2013

Shares in Adidas Group closed up 4.7 percent at 76.38 euros on the Frankfurt Stock Exchange as an upbeat sales forecast overshadowed a swing to losses in the fourth quarter.

The net loss totaled 273 million euros, or $354.1 million, which Adidas attributed to goodwill impairment of 265 million euros, or $343.7 million, resulting mainly from adjusted growth assumptions for Reebok in North America, Latin America and Brazil especially, as well as an increase in country-specific discount rates following the euro debt crisis.

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