THE GIST Our analysts just identified a stock with the potential to be the next Nvidia.
Tell us how you invest and we’ll show you why it’s our #1 pick
Tap here. Adidas delivered record second-quarter sales of €6.7 billion (about $7.7 billion), up 14% on a currency-neutral basis, helped by the FIFA World Cup, football kits, running demand and strong apparel sales. But operating profit rose only 5% to €574 million, missing expectations as marketing costs jumped.
Shares fell as much as 18%, putting Adidas on track for its worst one-day drop since listing in 1995. Adidas sold the shirts, balls and hype. Investors wanted more of it to reach the bottom line.