Adidas shares rally on ‘reassuring’ pre-close earnings call

MILAN (Reuters) -Adidas shares rose by 5% on Thursday with traders citing good news from a call with analysts ahead of the German sportswear maker’s full-year results due in March.

Analysts at Stifel said the call was “reassuring” following recent warnings from peers like Nike and JD Sports, adding that “the likelihood of a warning looks lower” for Adidas. On Wednesday, Puma fell around 6% after announcing worse-than-expected guidance for 2024.

Adidas declined to comment on the share price move. It will report full-year results on March 13.

By 1141 GMT, the shares were up 4.8%, leading gainers on Frankfurt’s DAX equity benchmark index.

(Reporting by Danilo Masoni and Helen Reid; Editing by Alun John and Ros Russell)