Adidas falls more than 6% on the stock market after presenting results

November 10, 2020 14:00

Adidas falls more than 6% on the stock market after presenting results

Adidas shares fell more than 6% in the stock market at 11 am this morning after the German company announced that it made a net profit of 281 million euros through September, 84.4% less than a year earlier. Despite the fact that Adidas has suffered a drop in sales due to the coronavirus, the truth is that in the third quarter it recovered slightly.

Adidas sales rose 14.297 million euros through September, 19.7% less than a year earlier. The company expected a recovery in the fourth quarter due to the slight improvement during the summer. However, the new wave of infections in some regions has led the company to change its perspective.

In the context of this crisis, the company would be planning to divest itself from the Reebok brand, which it acquired in 2006.

Despite today's fall in the stock market, Adidas has only accumulated a decline of just over 2% in the DAX 30, so far, in 2020.

In the last five years, it has not closed any year negative: 2019, +58.88%; 2018, +9.12%; 2017, +11.32%; 2016, +67%; 2015, +56.04%

Adidas CFD Daily ChartSource: Admiral Markets MetaTrader 5. Adidas CFD Daily Chart. Data range: from January 5, 2018, to November 10, 2020. Prepared on November 10, 2020, at 11:30 a.m. Keep in mind that past returns do not guarantee future returns.

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