Adidas Raises Full-Year Guidance After Better-Than-Expected 2Q Results
By Pierre Bertrand
Adidas increased its guidance for the year after the company's performance in the second quarter was better than expected.
The German shoe and sportswear company said it expected its currency-neutral revenue to increase at a high single-digit rate, compared with a mid-to-high single-digit rate previously. It added that it also expected around 1 billion euros ($1.09 billion) in operating profit, up from around EUR700 million previously.
Adidas said revenue for the second quarter grew 9% to EUR5.82 billion.
It added that its operating profit in the quarter grew to EUR346 million, compared with EUR176 million a year prior, including around EUR50 million from the sale of parts of the remaining Yeezy inventory.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
July 16, 2024 12:23 ET (16:23 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks
United States