Adidas's Guidance Raise Doesn't Surprise -- Market Talk

Dow Jones04-17

0546 GMT - Adidas raised its sales and profit guidance for 2024, but its new outlook is in line or even below Baader Helvea's and consensus expectations, Baader analyst Volker Bosse says in a research note. After a strong first quarter that benefited from sales of Yeezy products, the German sneaker and sports-apparel maker now expects revenue growth in the mid to high single percentage digit range excluding currency effects and an operating profit of around EUR700 million. This compares with Baader's estimate of full-year sales growth at constant currency of 7% and consensus forecasts of 7.4%, while Baader anticipates an operating profit of EUR891.1 million and the consensus puts the figure at EUR884.1 million, the analyst says. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

April 17, 2024 01:46 ET (05:46 GMT)

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This compares with Baader's estimate of full-year sales growth at constant currency of 7% and consensus forecasts of 7.4%, while Baader anticipates an operating profit of EUR891.1 million and the consensus puts the figure at EUR884.1 million, the analyst says. 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