Shoemaker Adidas announced fourth quarter results today with a 12.2% spike in sales, with operating profit more than tripling for the quarter to €132 million. On the contrary, the company reported a net loss of €3 million or €0.02 per share for the quarter, hit by the US tax code change. The year-over-year sales increase was helped by North America and Greater China sales, which surged 21.3% and 24.4%, respectively.
Outlook
For 2018, the company’s net income from continuing operations is expected to increase to a level between €1.615 billion and €1.675 billion, representing a growth of 13-17% year-over-year. Adidas also expects sales to increase about 10% on a currency-neutral basis.
Regionally, the company expects currency neutral revenue to grow at double-digit rates in North America and Asia/Pacific, while Western Europe and Latin America are expected to grow at a mid-single-digit rate.
Most Popular
MU Earnings: Micron’s Q4 profit declines but beats estimates
Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted
What are Philip Morris’ (PM) anticipations for the near term?
Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,
Key highlights from CarMax (KMX) Q2 2023 earnings results
CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,
