FUERTH, Germany (Reuters) - German sportswear company Adidas might take longer than expected to achieve targets for 2015 due to a combination of weak European growth, foreign exchange effects and executional mistakes, its chief executive said on Thursday.
"We will achieve most, if not all, of our 'Route 2015' operational targets. However, it might take a little longer than we originally anticipated," Herberg Hainer was due to tell the ADIDAS (ADS.XE)annual general meeting according to a speech text.
Adidas, which reported disappointing first-quarter results on Tuesday, had already warned in March that weakening emerging market currencies, notably the Russian rouble, would hurt 2014 results and pose a risk to its 2015 targets.
(Reporting by Joern Poltz, writing by Emma Thomasson; editing by Thomas Atkins)
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