FRANKFURT (dpa-AFX) - The robust performance of US sportswear manufacturer Lululemon in China also gave a lift to the shares of Adidas and Puma on Friday. The Chinese market is "of great importance" for the two German manufacturers, wrote equities expert Frederik Altmann from Alpha Wertpapierhandel regarding the stock gains.

On Thursday after the close, Lululemon posted a surprisingly strong quarterly report and raised its forecast for the full year. Goldman Sachs analyst Brooke Roach wrote that Lululemon exceeded market expectations mainly due to very strong business development in the People's Republic of China.

Adidas shares responded by jumping to the top spot in the DAX. They rose by 2.6 percent to €168.50, reaching their highest level since the end of October. Puma shares, one of the favorites in the MDAX, gained 4.2 percent to €21.96, after already rising by 4.5 percent on Thursday. Lululemon shares climbed nearly 10 percent in pre-market US trading most recently.

Nevertheless, so far this year, Adidas and Puma remain among the laggards on the German stock market: Adidas shares have lost around 30 percent, while Puma shares are down a little over 50 percent.

Assuming constant exchange rates, the US yoga apparel maker's China business grew by 25 percent year-on-year, highlighted the Goldman Sachs analyst. "The comparative figures for China were significantly better than expected, which is partly due to timing or specific measures, but the recovery is still remarkable on a quarterly basis." Roach also pointed to the overall better-than-expected margin development, despite headwinds from tariffs.

Lululemon's net revenue growth of about 46 percent on the Chinese mainland in the third quarter is remarkable, emphasized equities expert Andreas Lipkow. "That catches investors' attention and raises hopes for better business at Adidas and Puma as well." Even if the companies' businesses are only partially comparable, this strong sales development in China provides support. "Recently, a marked consumer restraint, not only in China, has led to weaker earnings. Now, the tide could be turning."

November data on US demand and supply trends in the sporting goods sector, which analyst Aneesha Sherman from Bernstein Research examined in her latest study, generally also show improvements. The trends regarding tariff-driven price increases pointed to a continued "relatively stable consumer demand," she wrote. In the fourth quarter, improvements in Adidas's US business performance are also evident./ck/nas/stw