adidas: outlook disappoints market; shares fall

(CercleFinance.com) - adidas has reported quarterly profit that is in line with market expectations, although the company's shares fell as its outlook failed to cheer investors.


For 2018, adidas continues to expect sales growth of around 10% at constant currencies, citing growth in North America and Asia-Pacific.

The company's gross margin is expected to increase by up to 0.3% to up to 50.7%.

For the first quarter ended 31 March, adidas posted net income that is up 17% at 542 million euros.

On the back of these results, analysts have said that full-year targets could be raised throughout the year

However, adidas shares are currently down 1.8% at 203.3 euros on the Frankfurt Stock Exchange in early morning trading today.

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