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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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.
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