Adidas shares jump as North America growth outpaces Nike [Reuters (UK)]
Royal Bank Of Canada (RY)
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Source: Reuters
Adidas shares jump as North America growth outpaces Nike | Reuters 4 Min Read BERLIN (Reuters) - German sportswear firm Adidas ( ADSGn.DE ) reported higher than expected second-quarter results on Thursday, as its sales growth continued to outpace rival Nike ( NKE.N ) in North America even as it stagnated in western Europe. Shares in the company famous for its three-stripe brand jumped 10 percent to a four-month high, putting them on track for their best day since the group increased its financial guidance in March. There were up 8.2 percent at 0955 GMT. The results are the latest endorsement of a strategy implemented by Chief Executive Kasper Rorsted since taking over in 2016, focused on improving profitability as well as expanding in North America and China and pushing sales via ecommerce. Adidas has a strong pipeline of new products that will support sales this year and beyond, Rorsted told journalists, noting strong demand for its 1980s retro “Continental” leather sneakers that
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