Adidas Seems to Be Paving the Way for Growth -- Market Talk

Dow Jones04-30

0914 GMT - Adidas should have continued strong momentum as sales growth accelerates, Deutsche Bank analysts Adam Cochrane and Shwetha Ramachandran write in a research note. The German shoe and sportswear major confirmed first-quarter preliminary figures and said that net profit swung to EUR170 million from a net loss of EUR39 million previously. The company saw still elevated stock levels in North America, but it was able to partly offset the impact of high inventories with growth in other markets. "It is reassuring to see the broad geographic spread of the sales performance with the U.S. weak as expected but a much stronger Europe," DB says. "Adidas remains one of our top picks for 2024," DB says. Shares are down 0.8% at EUR230.40. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

April 30, 2024 05:16 ET (09:16 GMT)

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The company saw still elevated stock levels in North America, but it was able to partly offset the impact of high inventories with growth in other markets. \"It is reassuring to see the broad geographic spread of the sales performance with the U.S. weak as expected but a much stronger Europe,\" DB says. \"Adidas remains one of our top picks for 2024,\" DB says. Shares are down 0.8% at EUR230.40. 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