Adidas shares rally on 'reassuring' pre-close earnings call
Reuters
Published Jan 25, 2024 13:20
MILAN (Reuters) -Adidas shares rose by 5% on Thursday with traders citing good news from a call with analysts ahead of the German sportswear maker's full-year results due in March.
Analysts at Stifel said the call was "reassuring" following recent warnings from peers like Nike (NYSE:NKE) and JD Sports, adding that "the likelihood of a warning looks lower" for Adidas (ETR:ADSGN). On Wednesday, Puma fell around 6% after announcing worse-than-expected guidance for 2024.
Adidas declined to comment on the share price move. It will report full-year results on March 13.
By 1141 GMT, the shares were up 4.8%, leading gainers on Frankfurt's DAX equity benchmark index.
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Written By: Reuters
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