1013 GMT - Adidas will likely emerge as a strong industry outperformer, Morgan Stanley analysts write in a research note. The German sporting-goods company reported preliminary revenue of 6.15 billion euros for the first quarter, up 13% on year in currency-neutral terms. "We suspect that the strength of the top line was very broadbased from a geography, channel and product category standpoint," the analysts say. Unlike in previous positive pre-announcements since Bjorn Gulden took the reins of the company in January 2023, Adidas is not raising or even reiterating its full-year guidance, they say. "Given tariff and macro uncertainties, we think it makes sense for Adidas to wait before raising full-year guidance," Morgan Stanley says. Shares are up 3.3% at 217.30 euros. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
April 24, 2025 06:14 ET (10:14 GMT)
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