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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.