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Adidas delivered record second-quarter sales of €6.7 billion (about $7.7 billion), up 14% on a currency-neutral basis, helped by the FIFA World Cup, football kits, running demand and strong apparel sales. But operating profit rose only 5% to €574 million, missing expectations as marketing costs jumped.
Shares fell as much as 18%, putting Adidas on track for its worst one-day drop since listing in 1995. Adidas sold the shirts, **** and hype. Investors wanted more of it to reach the bottom line.
Adidas reported second-quarter net sales of €6.74 billion, its highest quarterly revenue on record.
Currency-neutral sales rose 14%, driven by football, running and apparel. The company sponsored 14 national teams at the World Cup, supplied the official match ball, kitted out officials and ran a major campaign featuring Lionel Messi, Jude Bellingham, Lamine Yamal, Timothée Chalamet and Bad Bunny.
#sales #billion #neutral
Adidas delivered record second-quarter sales of €6.7 billion (about $7.7 billion), up 14% on a currency-neutral basis, helped by the FIFA World Cup, football kits, running demand and strong apparel sales. But operating profit rose only 5% to €574 million, missing expectations as marketing costs jumped.
Shares fell as much as 18%, putting Adidas on track for its worst one-day drop since listing in 1995. Adidas sold the shirts, **** and hype. Investors wanted more of it to reach the bottom line.
Adidas reported second-quarter net sales of €6.74 billion, its highest quarterly revenue on record.
Currency-neutral sales rose 14%, driven by football, running and apparel. The company sponsored 14 national teams at the World Cup, supplied the official match ball, kitted out officials and ran a major campaign featuring Lionel Messi, Jude Bellingham, Lamine Yamal, Timothée Chalamet and Bad Bunny.
#sales #billion #neutral
2 months ago
