Adidas Shares Get a Boost From Nike's Upbeat Sales
25 Junho 2021 - 6:10AM
Dow Jones News
By Giulia Petroni
Shares in sneaker maker Adidas AG rose Friday after its peer
Nike Inc. posted record sales fueled by solid U.S. consumer demand
for sportswear--an indicative sign of the sector's bright
prospects.
Nike's sales nearly doubled in the quarter ended May 31, beating
consensus estimates and raising investors' expectations for sneaker
makers and sporting brands as economies in key regions reopen.
At 0849 GMT, Adidas traded 5.1% higher at EUR307.40 a share,
with the overall DAX index lower.
"Nike's 4Q highlighted strong demand in North America and Europe
and a recovering China, setting up the scene well for upbeat 2Q
reports from Puma and Adidas in the weeks ahead," analysts at
Jefferies say.
Shares in German sporting-goods company Puma SE also rose,
trading 2.1% higher at EUR98.72, but off earlier gains of around
3%.
Earlier this year, Germany-based Adidas upgraded its guidance
and said it expected currency-neutral sales to increase by around
50% in the second quarter of the year and at a high-teens rate in
2021.
Adidas is scheduled to release results for the first half on
Aug. 5.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
June 25, 2021 05:06 ET (09:06 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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