Streetbeat News

ADDYY

Adidas AG

https://www.adidas-group.com/

CEO

Kasper Rorsted

Industry

Hosiery and Sock Mills

Open

117.81

Mkt cap

42B

Volume

5.7K

High

117.81

P/E Ratio

102.86

52-wk high

134.39

Low

116.63

Div yield

0.00

52-wk low

88.03

Adidas has raised its fiscal year 2024 outlook, expecting a 10% increase in currency-neutral revenues, up from a previous high-single-digit rate. The company also anticipates an operating profit of EUR 1.2 billion, compared to the prior view of around EUR 1.0 billion.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 10:09 am

Adidas reported a significant increase in Q3 earnings per share (EPS) to EUR 2.44 from EUR 1.40 year-over-year, with revenues growing by 7% to EUR 6.438 billion.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 10:04 am

Adidas reported strong Q3 results, with a 10% YoY increase in currency-neutral revenues and a 7% increase in Euro revenues to €6.44B. Excluding Yeezy, revenues rose 14%. The gross margin improved to 51.3%, and operating profit increased to €598M, including €50M from Yeezy inventory sales. Adidas raised its FY operating profit expectation to around €1.2B and revenue growth forecast to 10%.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 4:06 pm

Escalade, Inc. (NASDAQ:ESCA) has announced that its subsidiary, US Weight, will be the official U.S. distributor for adidas Fitness accessories. This partnership enhances US Weight's portfolio, which includes brands like Lifeline Fitness and The Step.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 10:13 am

Adidas expects unfavorable currency effects to significantly impact its profitability this year. Excluding Yeezy sales, currency-neutral revenues increased by 16% during the quarter. These effects are negatively impacting both reported revenues and gross margin development in 2024.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 3:54 pm

Adidas has increased its full-year guidance following better-than-expected Q2 results. The company assumes the sale of its remaining Yeezy inventory at cost, resulting in additional sales of around €150 million with no further profit contribution. Revenues grew 9% to €5.822 billion.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 3:53 pm

Nike's Q4 earnings report revealed a 2% revenue decline and a 12% drop in after-hours trading. The company is struggling with weak international demand and lowered its FY 2025 sales outlook. Nike is attempting to restore relationships with wholesalers like Foot Locker and Dick's Sporting Goods to boost sales.

Portfolio Pulse from Upwallstreet

June 28, 2024 | 4:31 pm

Adidas AG (OTC:ADDYY) is facing internal turmoil due to a bribery investigation in its China operations, leading to the departure of two employees. The company received an anonymous letter alleging misconduct, which led to the identification and dismissal of staff members involved in unethical practices. Despite these issues, Adidas has increased its full-year revenue guidance.

Portfolio Pulse from Shivani Kumaresan

June 26, 2024 | 5:59 pm

Xponential Fitness, Inc. (NYSE:XPOF) shares surged after announcing Mark King as the new CEO, effective June 17, 2024. King, with a strong background in leading global consumer brands, will succeed Brenda Morris. XPOF stock has dropped over 46% in the past year but rose 26.5% following the announcement. Investors can also gain exposure through IShares Russell 2000 Growth ETF (NYSE:IWO) and Vanguard U.S. Value Factor ETF (BATS:VFVA).

Portfolio Pulse from Shivani Kumaresan

June 17, 2024 | 4:29 pm

Adidas AG (OTC:ADDYY) is investigating serious bribery allegations in its China operations following a whistleblower's claims. The accusations involve high-ranking officials and significant embezzlement from the company's marketing budget. Despite the allegations, no staff members have been suspended, and the company has engaged external legal counsel to investigate.

Portfolio Pulse from Shivani Kumaresan

June 17, 2024 | 9:44 am

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