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Royal Bank of Canada: Adidas' fourth-quarter performance exceeded expectations.
Analysts Piral Dadhania and Nikolaos Lafionatis from Royal Bank of Canada Capital Markets stated in a report that Adidas's fourth-quarter performance exceeded expectations, which should be welcomed by investors. Adidas reported after market hours on Tuesday that, on a currency-neutral basis, quarterly sales grew by 19%, reaching nearly 5.97 billion euros. The gross margin for just the last quarter rose from 44.6% to 49.8%. Analysts stated, "Overall, we believe that given the stronger than expected momentum of the Adidas brand and the solid gross margin, "
Royal Bank Of Canada Stock Rises Tuesday, Outperforms Market