0716 GMT - Adidas reported better-than-expected results for the fourth quarter, which should be welcomed by investors, RBC Capital Markets analysts Piral Dadhania and Nikolaos Lafioniatis say in a note. The German sporting goods company reported after market close on Tuesday a 19% increase in quarterly sales on a currency-neutral basis to almost 5.97 billion euros. The gross margin in the final quarter alone rose to 49.8% from 44.6% previously. "Overall, we believe these results will be well-received by the market given stronger than anticipated underlying Adidas brand momentum and healthy gross margin build," they say. Shares closed at 243.40 euros on Tuesday. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
January 22, 2025 02:16 ET (07:16 GMT)
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