(Reuters) – Adidas shares jumped as much as 5% on Wednesday, hitting their highest in over two years, after the German sportswear company hiked its full-year guidance for the second time this year, having beaten expectations with its second-quarter results on Tuesday.
“We see the strength in 2Q24 still led by terrace Originals franchises — Samba and Gazelle — which we increasingly see on US consumers,” analysts at Telsey Advisory Group wrote in a note to clients.
Shares were up to 239 euros at 07:17 GMT, set for their largest-one day rise in three months.
Rival Puma rose 2.5%.
(Reporting by Linda Pasquini, additional reporting by Helen Reid; Editing by Amanda Cooper)
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