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© Reuters. FILE PHOTO: The emblem of German sports activities items agency Puma is seen on the entrance of certainly one of its shops in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger/File Photograph
(Reuters) -Shares in Puma fell 8.4% on Thursday after analysts mentioned the sportswear firm’s third-quarter earnings may fall wanting market expectations.
Analysts at brokerage Stifel mentioned Puma’s third-quarter earnings earlier than curiosity and tax may decline by a low double-digit price in contrast with final 12 months, a worse efficiency than consensus expectations for a 6% decline.
Puma mentioned it was totally on observe to attain its full-year steerage, whereas declining to touch upon its share worth motion.
Adidas (OTC:) shares fell by 2.7%.
RBC analysts mentioned the highest finish of Puma’s full-year 2023 steerage could also be out of attain, and the probability of a steerage elevate for the total 12 months had diminished.
Puma is about to report its third-quarter outcomes on October 24, and Adidas on November 8.
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