{"id":73867,"date":"2023-10-18T03:45:32","date_gmt":"2023-10-18T07:45:32","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/adidas-shares-climb-after-boost-to-guidance-while-european-markets-slip\/"},"modified":"2023-10-18T03:45:36","modified_gmt":"2023-10-18T07:45:36","slug":"adidas-shares-climb-after-boost-to-guidance-while-european-markets-slip","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=73867","title":{"rendered":"Adidas shares climb after boost to guidance, while European markets slip"},"content":{"rendered":"
\n

Adidas shares advanced on Wednesday as the apparel maker boosted its full-year guidance.<\/p>\n

Adidas shares
\n ADS,
\n +4.05%<\/bg-quote>
\n rose 4% as the company pre-released its third-quarter numbers, reporting a 27% decline in operating profit on a 6% fall in revenue. Adidas said its results were helped by selling its remaining Yeezy inventory, as well as a \u201cbetter than expected\u201d performance of its underlying business.<\/p>\n

\n

Adidas said it\u2019s now forecasting adjusted operating profit of around \u20ac100 million for the year, vs. previous guidance of break even, on a low-single digit decline in currency-neutral revenue, vs. a previous estimate of a mid-single-digit decline.<\/p>\n

Analysts at Stifel say the implied guide for the fourth quarter is \u201chighly conservative.\u201d \u201cFrom one company to another, [Adidas CEO] Bjorn Gulden has pursued a guide low\/beat-and-raise communication strategy even since FY22 results,\u201d said the analysts. Shares of Gulden\u2019s former company, Puma
\n PUM,
\n +2.53%<\/bg-quote>,<\/span>
\n rose 3%.<\/p>\n

Also rising were shares of Just Eat Takeaway
\n TKWY,
\n +7.33%<\/bg-quote>,<\/span>
\n as the delivery service company\u2019s stock gained 7% after boosting guidance and launching a \u20ac150 million stock buyback, while ASML Holding
\n ASML,
\n -4.00%<\/bg-quote>
\n shares fell 5% as the chip equipment maker\u2019s orders came in far below consensus estimates.<\/p>\n

The major European stock market indexes \u2014 the German DAX
\n DX:DAX,<\/span>
\n French CAC 40
\n FR:PX1
\n and U.K. FTSE 100
\n UK:UKX
\n \u2014 declined after a rise in U.S. bond yields following better-than-expected retail sales.<\/p>\n

The pound
\n GBPUSD,
\n +0.10%<\/bg-quote>
\n was slightly stronger after U.K. CPI, both at a headline and core level, came in a tenth higher than estimates.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Adidas shares advanced on Wednesday as the apparel maker boosted its full-year guidance. Adidas shares ADS, +4.05% rose 4% as the company pre-released its third-quarter numbers, reporting a 27% decline in operating profit on a 6% fall in revenue. Adidas said its results were helped by selling its remaining Yeezy inventory, as well as a […]<\/p>\n","protected":false},"author":1,"featured_media":73868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-73867","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nAdidas shares climb after boost to guidance, while European markets slip | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Adidas shares advanced on Wednesday as the apparel maker boosted its full-year guidance. 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