#AdidasStock #ECommerceGrowth #SustainabilityInBusiness
Adidas Shares Rise 5% After Hiking 2024 Guidance
Adidas shares surged 5% after the company raised its 2024 guidance, citing strong sales in its key markets. The German sportswear giant now expects revenue to grow by 10% to 12% this year, up from its previous forecast of 8% to 10%.
The company attributed the improved outlook to robust demand in North America, Europe, and Asia, particularly in its running and outdoor segments. Adidas also reported a significant increase in e-commerce sales, which now account for 20% of its total revenue.
Adidas' revised guidance comes as the company continues to invest in digital transformation and sustainability initiatives. The brand has been focusing on reducing waste and carbon emissions, as well as enhancing its online shopping experience.
The stock price jump follows a series of positive quarterly results, indicating that Adidas is on track to meet its long-term goals. Investors are optimistic about the company's ability to maintain its momentum and drive growth in the competitive sportswear market.
Original Article: https://www.cnbc.com/2024/07/17/adidas-shares-rise-5percent-after-hiking-2024-guidance-.html
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