Adidas shares climb after boost from Yeezy sales, guidance raise
Publishing timestamp: 2023-10-18 04:54:28
Summary
Adidas shares rose 4% after the company projected a smaller full-year operating loss of 100 million euros, an improvement from its previous forecast of a 450 million euro loss. The company's stronger-than-expected third-quarter earnings were boosted by sales of its Yeezy inventory. Adidas terminated its partnership with Kanye West in 2022 and has been working to sell off the remaining Yeezy inventory.
Sentiment: POSITIVE
Keywords: earnings, markets, apparel retail, business news, adidas ag, sports, breaking news: markets,