Adidas leads DAX, Limited Brands rocks Wall Street

Adidas AG, which reported a 272 million-euro net loss

for the fourth-quarter, added 4.1 percent to 74.57 euros, its highest price since at least November 1995. The owner of the Reebok brand said sales will increase at a “mid-single-digit” percentage pace in 2013. The company also proposed a dividend of 1.35 euros a share, a 35 percent increase from last year. Limited Brands led the wins across the Atlantic.

“We are well positioned to again achieve record sales in 2013,” Chief Executive Officer Herbert Hainer said in the statement. “2013 will also see a step change in the pace of operating margin expansion. And this, in turn, will lead to another year of double-digit earnings growth.”

The German listed company entered the European movers chapter after it rose as much as 4.8 percent in Frankfurt trading, the most in more than 10 months, shedding off the loss and a 2013 profit forecast that fell short of analysts’ estimates, reported Reuters. The company has cut its sales forecast for the year in November.

“We stick to our view that earnings improvement could be higher in 2013,” Michael Kuhn, an analyst at Deutsche Bank AG said in a note to investors issued on Thursday after Adidas published its earnings report. The profit outlook was “a little light, but close to consensus expectations.”

Meanwhile, main apparel retailers in the US on Thursday reported mixed February sales at established stores, impacted by payroll tax increase, rising gas prices, and delayed income tax refunds, reported ‘NASDAQ’.

According to lastly gathered data, sales during the month were aided primarily by Valentine's Day and Presidents Day sales promotions.

Limited Brands, Stein Mart, TJX reported sales increases, while Buckle, Ross Stores, Cato, and Zumiez reported declines. The results were largely higher than analysts' estimates, while Zumiez, and Ross Stores missed.