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Adidas shares rise on guidance increase after surprise earnings statement
Adidas shares rose almost 3% on Wednesday after the German sportswear group raised its full-year outlook on the back of unscheduled preliminary earnings late on Tuesday. Including a one-off US tariff refund of €200 million in the third quarter and a planned €100 million reinvestment in the fourth quarter, Adidas now expects annual operating profit of €2.5 billion, up from its previous target of €2.3 billion. The surprise update provided “another compelling proof point of Adidas continuing to expand market share while delivering profitable growth amid a challenging environment”, Metzler analyst...
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