2023-06-28 13:02:30 ET
Shares of Signa Sports United (NYSE: SSU) were trading as high as 4% after the market open on Wednesday. The jump came after the company reported earnings for the fiscal second quarter of 2023, where sales and profits were down year over year.
Given the weak conditions in Europe, investors were likely optimistic following management's positive outlook for the next year.
Sales of the company's various sporting goods are still being impacted by the weak economy in Europe. The company reported a 15% decline in active customers year over year, which led to a 23% drop in revenue compared to the year-ago quarter.
For further details see:
Why Signa Sports Stock Was Up Earlier This Morning