Adidas jumps 5% after second outlook hike, strong Q2 By Reuters

(Reuters) – Adidas (OTC:) 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%.