Adidas

Ticker ADS

Today's data summary

Market open
% change
+4.00%
Price Euros
273.30
Change
+10.50
As of 16:47 18 Jun 2019
Market cap. Euros
54,433.43 million
As of 16:47 18 Jun 2019

Latest updates

Adidas powers ahead

adidas store
Getty Images

Shares in Adidas have been up as much as 7% after the German sportswear company reported double-digit sales increases in Greater China and e-commerce.

Global sales increased 6% to €5.88bn (£5bn).

It expects sales to increase between 5% and 8% in 2019 and has already announced that it is not going to be able to meet all the demand for its produce immediately because of "supply chain shortages".

So it expects sales growth of between 3% and 4% in the first half of 2019, followed by "a sequential acceleration" during the second half of the year.

Adidas lowers sales outlook

Adidas footwear
Getty Images

Adidas has just released an interesting set of third quarter results with a mixed outlook because of lower than expected growth in Western Europe.

The sportswear giant said sales rose 3% to €5.8bn (£5bn) while operating profit grew 13% to €901m.

And while it expects income to rise for the full year, it now expects revenues to grow by between 8% and 9% compared to previous forecasts of 10%.

TfL secures 'vital funds' with Adidas deal

Adidas
Adidas

Transport for London (TfL) is offering an Oyster card with £80 credit to anyone who buys a pair of limited edition trainers.

The footwear is being sold by Adidas to mark the 15th anniversary of the electronic travel card being launched in the capital.

Three designs will be available, featuring TfL logos such as a Mind The Gap roundel TfL says the deal will provide "vital funds".

More than 100 million people have used Oyster cards since they were launched on 30 June, 2003.

Earlier this week, MPs were told that TfL would miss out on £20m in revenue because of delays to the £15bn Crossrail project.

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'Dad trainers' are cool again, apparently

Adidas has relaunched the Continental, a favourite from the late 1980s
Adidas
Adidas has relaunched the Continental, a favourite from the late 1980s

It's time to empty out your dusty old shoe rack because "Dad trainers" are back in fashion, according to Adidas's chief executive Kasper Rorsted.

He tells CNBC: "I was recently having dinner with [tennis player] Stan Smith in New York who we've had a contract with since 1973 and he said 'a lot of people don't know who I am, they think I'm dead' and so the kids are actually driving [the trend], we're just following the kids."

Mr Rorsted says: "The newest trend you're seeing on the high street is the mock-ups or the new models from what we had in the 90s - clunky shoes are now coming in which aren't to everybody's taste but that's the new taste so that will continue to evolve."

Adidas reported second quarter sales up 4.4% at €5.2bn and pre-tax profits up 20.9% at €588m.