In the period from January to March, Adidas's net profit fell by 33.8% to €204mil (US$283mil), but the company expects the accelarated growth for rest of the year - AFP Photo.
FRANKFURT: Adidas, the German maker of sportswear and equipment, said Tuesday that earnings were down in the first quarter, hit by unfavourable exchange rates and the strong euro.
"Our financial results for the first quarter reflect the challenging start to 2014 which we had expected," said chief executive Herbert Hainer.
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