The sporting goods manufacturer Adidas published its preliminary quarterly figures last week.
This caused disappointment among investors and caused the price to collapse.
The company has now confirmed the final business figures, to which the market reacted much more favorably.
Currency-adjusted sales increased by 4% to 5.57 billion euros. However, the gross margin dropped significantly from 10.7 to 7.0 percent.
Since business in China is recovering more slowly than expected, a double-digit percentage decline in sales is expected there. In North America, however, sales growth is expected to be in the high teens percent range, and in South America growth of 30 to 40 percent is even expected.
The share gained almost 4% in an overall positive market environment.
From a technical point of view, the price could now break out of the falling trend channel in the daily chart. The breakout would have to be confirmed with a daily closing price above the trend line. After that, upward pressure could intensify.
Adidas $ADS on the daily chart (D1)
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