FRANKFURT (dpa-AFX) - Adidas shares continued to close the gap with Puma on Wednesday. Surging more than 6 percent to 167.25 euros, Adidas stock climbed back above its 200-day moving average for the first time since March of last year. The year-to-date loss for 2026, which at one point reached 23 percent, has now almost entirely evaporated. Meanwhile, Puma shares rose by over 4.5 percent mid-week, approaching their annual high. Having gained nearly a third in 2026, Puma has significantly outperformed the MDax. In contrast, despite a recent recovery, U.S.-based Nike remains down nearly 30 percent since the start of the year.

The upcoming FIFA World Cup in North America is already casting its shadow. All three brands are on board as team kit suppliers. This marks the final tournament for Adidas as the supplier for the German national team (DFB) before Nike takes over the contract. However, there is little sign of nostalgia at Adidas, as evidenced by an interview with football head Sam Handy in 'Handelsblatt'. 'Commercially, it will be the biggest World Cup we have ever had,' Handy stated. The group expects a direct World Cup impact exceeding one billion euros. 'With the jerseys we have launched, our already high and very ambitious expectations have been exceeded.' Adidas also outfits the reigning world champions, Argentina. Depending on on-field success, the company is prepared to ramp up jersey production.

At Puma, the primary catalyst for the recovery rally remains a successful turnaround, bolstered by the entry of major shareholder Anta at the beginning of the year. Partnering with the Chinese firm, known for brands such as Fila and Jack Wolfskin, Puma aims to restore its brand prestige to former heights. Operationally, however, the company still trails significantly behind its larger rival from the same town of Herzogenaurach./ag/gl/stk