Adidas Q1 Net Profit Surges As World Cup Looms
(AP)— A boost in sales due to big sporting events like the Superbowl and the upcoming World Cup pushed athletic shoe and clothing maker Adidas AG’s first quarter profit sharply higher. Adidas said Tuesday it earned euro168 million ($222.4 million) in the January-March period, a big leap from the euro5 million it posted a year earlier. The sharp increase came as revenues rose 4 percent to euro2.67 billion in the quarter compared with euro2.57 billion a year earlier.
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