Dow Jones Newswires: Adidas sales beat expectations as sportswear maker backs 2019 view [MarketWatch]
ADIDAS AG S/ADR (ADDYY)
NASDAQ:AMEX Investor Relations:
adidas-group.com/en/investors/overview
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Source: MarketWatch
Adidas sales beat expectations as sportswear maker backs 2019 view Adidas AG on Wednesday reported third-quarter net profit and sales that beat analysts’ expectations, and backed its 2019 view. The German sporting goods company ADS, +1.00% posted net profit of 646 million euros ($717.2 million) for the quarter, lower than the previous year’s EUR658 million as previously flagged by the company, but better than analysts’ expectations of EUR635 million, according to a FactSet estimate. The decline in net profit was partly due to the adoption of a new accounting standard, Adidas said. Sales for the quarter were EUR6.41 billion compared with EUR5.87 billion the year previous, beating analysts’ forecast EUR6.32 billion, according to FactSet. At constant currencies, sales grew 6% during the third quarter, accelerating from the 4% sales growth rate posted in the first half of the year. By region, top-line momentum improved markedly in North America, where the company faced challenges earli
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