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Adidas 1Q Net Profit Falls 97 Percent To Euro5M
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GEORGE FREY
FRANKFURT (AP) — German sportswear maker Adidas AG said Tuesday its first quarter net profit fell 97 percent as the economic crisis crimped the company's sales, especially in North America.
The Herzogenaurach-based company said net profit for the January-March period fell to just euro5 million ($6.61 million) from euro169 million in the first quarter of 2008.
Sales for the period fell 2 percent to euro2.58 billion ($3.41 billion) from euro2.62 billion in the first quarter of 2008. ...
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