Adidas : Strong Q1 prelims, FY 2024 guidance increase
>Top-line growth of 8% and underlying gross margin of >50% - Yesterday evening, adidas pre-released strong results for Q1 2024. In Q1, sales rose 4% y-o-y to € 5.5bn driven by a currency-neutral increase of 8% (consensus: 4%, ODDO BHFe: 5%) but also negative FX. adidas stated that Yeezy contributed € 150m to this, i.e. 3%. This means underlying growth was roughly 5% and we believe this was again supported by the terrace trend. We think this is a good achievement given...ACM Managed Dollar Income Fund is a non-diversified, closed-end management investment company. This closed-end investment fund is designed for investors who seek high current income and capital appreciation. In order to achieve this objective, Co. invests primarily in high-yielding, U.S. and non-U.S. fixed income securities, denominated in U.S. dollars, that it expects to benefit from improving economic and credit fundamentals. Co. may utilize leverage through the investment techniques of reverse repurchase agreements and dollar rolls. As of Sept 30 2007, Co. had total assets of $192,614,325 and investment portfolio totalled $178,906,534.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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