Adidas profits fall

Net profits fell 93 per cent in the second quarter at sportswear maker Adidas AG, with declining margins at its loss-making Reebok division partly to blame.

The drop in second-quarter earnings to 9 million euro was also partly due to lower overall sales, a fall in the Russian rouble and more promotional spending in advance of the 2010 World Cup.

Adidas announced in January that it was closing Reebok