Adidas expects sales to fall at least 40% in second quarter
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April 27, 2020Adidas misses forecasts with 93% profit plunge, warns on sales
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Adidas reported a 93% plunge in first-quarter profit and sales off 19%, missing forecasts, and warned of a deeper hit to second-quarter revenue as lockdowns forced the German sportswear maker and other retailers to close stores.
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