Adidas' fourth-quarter sales top expectations as final Yeezy stock sold off [MSNBC.com]
ADIDAS AG S/ADR (ADDYY)
NASDAQ:AMEX Investor Relations:
adidas-group.com/en/investors/overview
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Source: MSNBC.com
AdidasThe German sportswear giant recorded a 19% increase revenues at neutral currency rates to 5.97 billion euros ($6.34 billion) in the three-month period, ahead of the 5.72 billion euros forecast by LSEG analysts.Shares were down 2.6% shortly after the market open on Wednesday.Full year sales rose 12% at currency neutral rates to 23.7 billion euros, versus an anticipated 23.5 billion euros. Operating profit totaled 1.34 billion euros in 2024, compared with the 1.27 billion euros forecast.The figures came in ahead of with the company's own guidance,raisedCEO Bjorn Gulden described the Wednesday results as "much better than we had expected.""Although we are not yet where we want to be long term, it was a very successful year that confirmed the strength of the adidas brand, the potential of our company and what a fantastic job our teams are doing. We still have a lot to improve but I am very proud of what our people achieved in 2024," he said in a statement.Outlining its forecasts for
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