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News > International
Adidas U.S. sales hit
May 3, 2001: 5:18 a.m. ET

Germany's adidas-Salomon posts lower first-quarter profits as U.S. sales fall
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LONDON (CNN) - Adidas-Salomon, the world's No. 2 sports goods maker, said on Thursday first-quarter profits fell 12 percent as sales lagged in the U.S.

The German rival of Nike (NKE: Research, Estimates) said first-quarter net profits fell to graphic46 million ($41 million) from graphic53 million, even as sales rose 3 percent to graphic1.6 billion compared with the same period last year.

The sponsor of athletes such as tennis players Anna Kournikova and Martina Hingis and football players David Beckham and Zinedine Zidane said new orders for its adidas brand fell in its key North American market, but rose 1 percent overall.

In Europe, sales grew 5 percent to graphic852 million, at the top end of the company's expectations, Adidas said. Net sales in North America fell, however, by 6 percent to graphic445 million and the company said it also felt the effects of the strong dollar.

Adidas (FADS) said its other units, TaylorMade-adidas Golf and Salomon ski equipment, delivered above average sales growth of 23 percent and 7 percent respectively.

"We expect further improvements throughout the year, especially in the second half, when initial results of our new strategies will become visible," said Chief Executive Herbert Hainer.

Shares in Adidas fell 0.7 percent to graphic67.5 in early Frankfurt trade. graphic





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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.