Adidas slumps after earnings miss, underwhelming outlook upgrade

PUMA SE

30/07/2026 08:23

Adds JP Morgan quotes, updates share moves
** Shares in German sportswear maker Adidas ADSGn.DE slumped 16.4% after the company missed Q2 EBIT expectations and delivered a guidance upgrade that fell short of investor hopes
** The guidance hike was limited and not enough to meet market expectations, a local trader says
** A solid but not exceptionally strong top-line performance, a second-quarter EBIT miss and the absence of an upgrade to full-year profit guidance were likely to weigh on the shares, J.P. Morgan says
 ** Despite a strong beat on Gross Margin, EBIT missed our and consensus estimates by 8%, driven by higher World-Cup related marketing expenses, JPM adds
 ** Adidas shares are on track for the worst day ever
** Shares in its peer Puma PUMG.DE are down 2.3%

(Reporting by Anastasiia Kozlova and Anika Ross)
((Anastasiia.Kozlova@thomsonreuters.com))