German sportswear group Adidas said it would take one-off costs to restructure the Reebok brand and invest in its future growth as it reported sales momentum slowed slightly in the third quarter.
New chief executive Kasper Rorsted took over from long-serving boss Herbert Hainer in October.
He is under pressure to keep up growth and improve profitability at Adidas after its shares have soared two-thirds this year.
Adidas said it will take unspecified one-time costs in the second half due to measures aimed at strengthening future growth, as well as around €30m due to restructuring measures at struggling fitness brand Reebok.
Some investors have suggested that Rorsted should consider selling Reebok, which Hainer bought in 2005 in a bid to catch up with market leader Nike in the US market, but which has flagged since then, weighing on the group's profitability.
The company said its third-quarter net profit rose 15% to €387m on sales up 14% to €5.4 billion, compared with average analyst forecasts for €377m and €5.4 billion respectively.
On a currency neutral basis, sales growth was at 17%, slowing from 21% in the second quarter.
Adidas reiterated a forecast it raised in July for 2016 currency-adjusted sales to grow at a rate in the high teens and for net profit from continuing operations to rise at a rate of between 35-39%.
Sales at the core Adidas brand rose 20% on a currency-neutral basis, compared with 7% for Reebok, and 6% for the TaylorMade golf business it is trying to sell.
Adidas continued its recovery in North America, with currency-neutral sales up 20%, though that was a slowdown from the 26% growth seen in the second quarter.
Both Nike and Under Armour have reported slowing sales in the region.
