Global sports goods house Adidas saw a decline of €5m (£4.4m) from €169m in the first quarter of 2008, partly owing to €80m restructuring costs of its Reebok brand, and other one-off charges.
The group also said it would accelerate corporate restructuring plans.
Adidas predicted a decline this year, amid higher raw material costs, the devaluation of the Russian rouble and the general global downturn, the FT reported.
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