0659 GMT - Adidas's preliminary figures show that the German sportswear group had a better-than-expected first quarter, Citi analysts write in a research note. Sales came in at 6.15 billion euros, 13% higher than in the prior-year period in currency-neutral terms. The analysts note the result was ahead of consensus of 12% growth. The company's gross margin rose to 52.1% from 51.2%, above consensus of 51.8%. "We expect a positive reaction to this update given the material beat, gross margin strength, and recent share price weakness," the analysts say. (mauro.orru@wsj.com)
(END) Dow Jones Newswires
April 24, 2025 02:59 ET (06:59 GMT)
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