Adidas slips on soft footwear sales growth

Nov. 06, 2019 9:21 AM ETadidas AG (ADDYY)ADDYYBy: Clark Schultz, SA News Editor

Shares of Adidas (OTCQX:ADDYY) are down 2.88% in Frankfurt trading after the company reports Q3 earnings.
While sales were up 6% on a currency-adjusted basis, footwear sales rose just 1% off a tough comparable to last year when a new Yeezy line launched. Sales growth in China slowed to a pace of 11% during the quarter from 14% in Q2.
Looking ahead, Adidas confirmed its full-year outlook for currency-neutral sales growth of 5% to 8% and management sounded confident on soccer merchandise sales in 2020 with the European Championships set for next summer.
Previously: adidas AG reports Q3 results (Nov. 6)