Adidas rises on 'generally positive' Q3 details, China strength

Reuters

Adidas rises on 'generally positive' Q3 details, China strength

2024 10월 29 일, 오전 8:19 GMT

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>BUZZ-Adidas rises on 'generally positive' Q3 details, China strength</title></head><body>

** Shares in Adidas ADSGn.DE rise 2.3% after the German sportswear maker confirmed its preliminary Q3 results, helped by growth across its regions and channels

** Analysts note limited surprises due to Adidas' Q3 pre-release and FY outlook hike earlier in October

** "That being said, the new details provided on Q3 are generally positive, with strength in Europe and China," which both beat expectations, J.P.Morgan says

** Jefferies highlights Adidas' stronger performance in the wholesale channel vs direct-to-consumer, "which makes the 51.3% (gross margin) all the more impressive"

** "The shares have been clearly range-bound in recent months as some investors have shifted their attention to the expectation management likely to come early in 2025," Jefferies adds

** Including Tuesday's move, shares in Adidas have gained 18% YTD; however, they have lost about 11% from their Sept. 30 peak of 243.90 euros

** "In the absence of much new news, we expect the call to be the main event today, with the focus on any current trading comments given concerns that ex-Yeezy growth will slow again in Q4," JPM says, adding it expects details on more recent trends to be reassuring

** The stock is the top performer on German blue-chip index .GDAXI

Reporting by Linda Pasquini

</body></html>

Adidas rises on 'generally positive' Q3 details, China strength

관련 자산

최신 뉴스

Option Care Health drops due to supply chain disruptions

U.S. STOCKS Zimmer Biomet, Shake Shack, Microsoft

Hims & Hers falls after FDA says lowest dose of Novo Nordisk's weight-loss drug available

PREVIEW: Meta Platforms edges up; results due after the bell

Not all roads will lead to inflation

XM 실시간 채팅