Adidas First-Quarter Profit Drop Shows Concerns Beyond World Cup
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Adidas AG, the world’s second-biggest sporting-goods maker, reported a decline in first-quarter earnings that showed the company has more to be concerned about than just selling goods to soccer fans at the World Cup.
Revenue at the TaylorMade golf business slumped, while the strength of the euro is blowing a hole in sales and profit at a company that gets less than a third of business from western Europe, according to figures released today.