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The company attributed these strong results to high sales and profitability during the crucial holiday shopping period. Following Adidas' lead, Puma (OTC:PMMAF)'s shares also rose by 2.5%.

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As a result, operating profits for 2024 as a whole surged to €1.34bn, up from €268m in 2023 and well ahead of Adidas's own guidance of €1.2bn. Annual revenues were up 12% at constant currenc ...

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Puma wants to improve operations and cut costs in the name of profitability, while Adidas said its operating model is too complex.