adidas: shares slide on lower growth forecast
(CercleFinance.com) - Shares in adidas fell more than 3% on Wednesday after the German sports goods maker said it expected lower revenue growth in 2019.
The group's currency-neutral sales increased by 8% in 2018, although for 2019 adidas expects top-line growth of between 5% and 8%.
The company expects its gross margin to increase to around 52% this year, it also said.
In 2018, the company's gross margin increased 1.4 percentage points to 51.8%, representing the highest margin in its history.
adidas said that net income from continuing operations increased 20% to 1.7 billion euros last year, with the Reebok brand returning to profitability.
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The group's currency-neutral sales increased by 8% in 2018, although for 2019 adidas expects top-line growth of between 5% and 8%.
The company expects its gross margin to increase to around 52% this year, it also said.
In 2018, the company's gross margin increased 1.4 percentage points to 51.8%, representing the highest margin in its history.
adidas said that net income from continuing operations increased 20% to 1.7 billion euros last year, with the Reebok brand returning to profitability.
Copyright (c) 2019 CercleFinance.com. All rights reserved.