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Adidas first quarter profits up 14% in western Europe

German sportswear giant Adidas said profits rose 14% in western Europe to €1.09bn (£0.9bn) for the first quarter of 2011.

The brand attributed its strong performance in western Europe to double-digit sales growth in Germany, France and Italy.

In European emerging markets, group sales increased 26% to €370m (£328m) due to growth in most of the region’s markets, in particular Russia.

Overall group profits grew 18% to €3.27bn (£2.90bn) as a result of double-digit sales increases in wholesale. Group wholesale profits grew 18% to €2.32bn (£2.06bn) while retail profits grew by 22% to €577m (£511m).

Group chief executive Herbert Hainer said: “We are off to a powerful start in 2011 with record first quarter results.”

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