10
May
In March, Adidas reported that it was expecting an operating loss of $728 million. However, on May 5, the firm reported an increase of 8% in shares, marking its highest level since August 2022. The growth comes after sales were predicted to drop by 4% but only dropped by 1%, Reuters reported. Equity research analyst at Quilter Cheviot, Mamta Valechha, told Reuters that Adidas is managing the expectations of investors. “They are going in the right direction – China is recovering, inventories are still too high, but at least sequentially down,” she said. Despite the gains made by Adidas, the…
