CORRECTED-UPDATE 1-Puma to cut sponsor deals, products as battles slump
July 26, 2012 at 03:23 AM EDT
FRANKFURT, July 26 (Reuters) - German sportswear maker Puma said it would cut the number of products it offers and end expensive sponsorship deals as it struggles to offset a slump in its sales in Europe and catch up to rivals in the United States and China.