Sporting goods manufacturer
Customs uncertainty presses Adidas share into the minus
The strong euro is burdening the company from Herzogenaurach, plus global uncertainties. The stock exchange doesn’t like that.
Customs uncertainty and uncertain end markets put a strain on the development at Adidas and put pressure on the share of the sporting goods manufacturer. The papers in the DAX gave up by more than 7 percent after the quarterly figures were presented.
The group had not raised the forecast for the operational result (EBIT) this year, as it was said by the Jefferies analysis house. Now the experts are wondering whether the uncertain location also leads to more turbulence for the order books in wholesale.
The strong euro burdened sales development, as the company in Herzogenaurach announced. The proceeds increased by around two percent to 5.95 billion euros. Adidas achieved a plus of eight percent.
According to the information, the operating result improved by 57.7 percent to 546 million euros and was better than expected from analysts. Adidas benefited from fewer discounts and lower product and freight costs.
For the rest of the year, the company continues to see “improvement potential”. However, US customs policy mountains high risks.
dpa
Source: Stern
