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Puma sales down about 50%, sees worse second quarter

BERLIN, May 7 (Reuters) - German sportswear firm Puma expects its second-quarter results to be worse than the first, after it reported that first-quarter sales fell 1.3%, better than analysts had feared.

First-quarter sales came in at 1.3 billion euros ($1.40 billion), while operating earnings fell 50% to 71.2 million, compared to average analyst forecasts for 1.26 billion and 74 million respectively.

Analysts have said they expect Puma to prove more resilient in the coronavirus crisis than its German rival Adidas , which reported last month that first-quarter sales tumbled 19% and also warned of a worse second quarter. ($1 = 0.9262 euros) (Reporting by Emma Thomasson Editing by Edward Taylor)

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