Adidas Announces Preliminary Third Quarter Results And Increases Full Year Guidance; Sees Q3 Revenue Increased 1% YoY, In € Terms, Revenue Declined 6% To €5.999B Vs €6.408B YoY; Positively Impacted By Sale Of Remaining Yeezy Inventory
Portfolio Pulse from Benzinga Newsdesk
Adidas has announced its preliminary Q3 results, showing a 1% YoY increase in revenue. However, in Euro terms, the revenue declined by 6% to €5.999B from €6.408B YoY. The results were positively impacted by the sale of remaining Yeezy inventory. The company has also increased its full-year guidance.
October 17, 2023 | 4:32 pm
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NEUTRAL IMPACT
Adidas' Q3 results show a mixed picture with a 1% YoY increase in revenue but a 6% decline in Euro terms. The sale of remaining Yeezy inventory has had a positive impact. The company has also increased its full-year guidance.
The news presents a mixed picture for Adidas. While the 1% YoY increase in revenue is positive, the 6% decline in Euro terms indicates some challenges. The sale of remaining Yeezy inventory has positively impacted the results, which could be seen as a positive by investors. However, the overall impact on the stock is likely to be neutral in the short term as the positive and negative aspects balance each other out.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100