Puma, Adidas Shares Climb on Deckers Outdoor's Positive Outlook

Shares of Puma and Adidas have increased following a strong forecast from Deckers Outdoor. Deckers Outdoor, known for brands like Hoka and Ugg, saw its stock rise. Adidas shares gained 6% and Puma shares rose 8% on Wednesday. This comes after Nike's stock jumped 13% in premarket trading. Deckers Outdoor's earnings are projected to grow by 6.26% in the coming year, increasing from $6.87 to $7.30 per share. Puma's CEO Michael Kliger stated the company is on track to achieve $4 billion in net sales and an EBITDA margin between 7% and 9% within four to six years. On Holding AG, a competitor, saw its share price gain 21% since its listing two years ago. However, it is unlikely that Deckers or On will surpass Nike and Adidas in market size. This article is intended for informational purposes only. It does not constitute investment advice.