Restructuring costs hit Adidas

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.

Penny Sukhraj | Content editor, Accountancy - (up to 2016)

Penny Sukhraj, former content editor and writer for Accountancy and Accountancy Live, responsible for commissioning and editing news...

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