Adidas Shares Drop

Adidas (ADDYY) saw its shares drop 19 % on Thursday after the company released Q2 results that fell short of analysts’ expectations. Operating profit rose 5 % to €574 million, missing the €623 million consensus, while revenue climbed 14 % to €6.74 billion. The lift in sales was driven by demand for World Cup‑related products, retro apparel and footwear, yet marketing spend for the FIFA event jumped 30 %, eroding some of the earnings benefit. Management, however, raised its annual currency‑neutral revenue‑growth forecast to 9 %‑10 % and reaffirmed an operating‑profit target of about €2.3 billion for the year, signalling confidence in the business trajectory.