Adidas profit misses on jump in World Cup marketing spend
CEO Bjorn Gulden bets big on soccer showpiece, selling four times more jerseys than four years ago — but investors balk at the price of victory.
Shares slide 5% after second-quarter earnings miss, even as the sportswear maker raises its sales outlook on World Cup-related revenue. Image: Getty Images
Shares slide 5% after second-quarter earnings miss, even as the sportswear maker raises its sales outlook on World Cup-related revenue. Image: Getty Images
