Adidas Plans

Sarla Buch
14 Mar, 2018
New York City

Adidas surged after profit beats forecast and the shoemaker lifted outlook. Bpost tumbled on weak forecast. DBV Technologies net loss widened. Inditex said profit jumped after sales at retail chain Zara soared 8%.

[R]4:00 PM Frankfurt – Adidas surged after profit beats forecast and the shoemaker lifted outlook. Bpost tumbled on weak forecast. DBV Technologies net loss widened. Inditex said profit jumped after sales at retail chain Zara soared 8%.[/R]

In London trading, FTSE 100 index edged up 1.87 to 7,140.65 and in Frankfurt the DAX index gained 54.08 or 0.4% to 12,275.11.

In Paris, CAC 40 index advanced 15.95 or 0.3% to 5,258.74.

Adidas AG surged 12.5% to €190.05 after Germany-based athletic and sports lifestyle products maker reported revenues in the year ending in December soared 15% from a year ago to €21.2 billion.

Net income in the year jumped 15% to €1.2 billion from €1 billion in a year ago period and diluted earnings per share advanced to €7 from €5.29.

Adidas forecasted fiscal 2018 sales to increase about 10% and operating margin to increase between 10.3% and 10.5% and net income to jump between €1.62 billion and €1.68 billion.

The sportswear maker lifted fiscal 2020 operating margin estimate to up to 11.5% from the earlier estimate of 11%.

The athletic and sports lifestyle products maker said that it will launch share buyback program of up to €3 billion or $3.7 billion until May 2021 and targeted to buy shares worth €1 billion in this year.

Bpost SA tumbled 20% to €22.32 after the Belgium-based postal services provider said revenues in the year ending in December jumped 23.9% from a year ago to €2.9 billion.

Net income in the year declined 6.7% to €322.9 million from €343.8 million in a year ago period and diluted earnings per share fell to €1.62 from €1.72.

The postal services provider forecasted fiscal 2018 operating profit in the range of €560 million to €600 million and capital expenditure of about €140 million.

DBV Technologies SA dropped 2.2% to €36.40 after France-based clinical-stage biopharmaceutical stated net loss in the year ending in December widened to €147.7 million from €114.5 million a year ago.

Research and development expense in the year surged 33.5% to €105.2 million and cash and cash equivalents as of December 31, 2017 declined to €137.9 million from €256.5 million in the same period a year ago.

Inditex SA jumped 3.8% to €25.19 after Spain-based apparel, footwear and accessories retailer reported revenues in the year ending in December advanced 9% from a year ago to €25.3 billion.

Comparable sales in the year increased 5% and revenue from online sales soared 41%.

Net income in the year jumped 6.6% to €3.4 billion from €3.2 billion in a year ago period and diluted earnings per share increased to €1.08 from €1.01.

The retailer said total sales at retail chain Zara segment jumped 8% to €16.6 billion from €15.4 billion in a year ago period.