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Adidas Posts Its Highest-Ever Gross Profit Margin In Q2

adidas today reported Q2 results and the company posted its "highest-ever gross profit margin as the sale of higher-priced products through its own stores helped offset weak consumer spending in Europe and ongoing problems at Reebok." Sales during the quarter declined 2% "on a lack of major sporting events," but operating profit increased 8% to US$578M (REUTERS, 5/3).

Meanwhile, adidas said that it was keeping its 9% stake in Bayern Munich and that the company "was 'completely clean' in a tax scandal" involving club President Uli Hoeness (REUTERS, 5/3).
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