adidas AGADS
▲ PositiveDemandrelevance
Robust demand from World Cup and retro-style models boosted revenue, leading to raised full-year revenue forecast.
Impact on stocks 1
Consumer Discretionary
adidas AGGerman sportswear giant Adidas has lifted its full-year revenue outlook. On a currency-neutral basis, it now expects growth of 9 to 10 percent year-on-year, up from a previous forecast of a high single-digit increase. Second-quarter revenue rose 14 percent to 6.74 billion euros, beating analyst estimates of 6.63 billion euros, but operating profit grew just 5 percent to 574 million euros, missing the forecast of 623 million euros. Robust demand for the football World Cup and retro-style models boosted revenue, while a 30 percent jump in marketing expenses for World Cup campaigns weighed on profit. The full-year operating profit forecast was kept unchanged at around 2.3 billion euros.
adidas AGRobust demand from World Cup and retro-style models boosted revenue, leading to raised full-year revenue forecast.