REEBOK'S FIRST QUARTER PROFITS FALL 49 PERCENT

          Reebok Int'l said Wednesday that its first-quarter
     profit fell 49% and company officials "predicted another
     tough quarter ahead with no improvement expected until
     autumn at the earliest," according to Gregg Krupa of the
     BOSTON GLOBE.  Net income fell from $40.2M, or $0.69 per
     share, in 1Q '97 to $20.3M, or $0.36 per share in 1Q '98. 
     Net sales were down from $930M in 1Q '97 to $880.1M.  Krupa
     writes that Reebok's performance was "about what analysts
     had expected."  Reebok Exec VP Operations & Finance Kenneth
     Watchmaker: "We're not writing off 1998, but we are
     realistic about our position." Reebok stock closed yesterday
     at 31 9/16 per share, down 7/8 (BOSTON GLOBE, 4/23).