Sportswear Brands Go To The Olympics In 2024: Paris Games To Showcase New Brands
Portfolio Pulse from Neil Dennis
Adidas (OTC:ADDDF) is recovering from a tough 2023, with better-than-expected Q3 results and a 50% stock increase this year, despite a 74% drop from its July 2022 peak. Nike (NYSE:NKE) shares are down 36% from their November 2021 high. The 2024 Paris Olympics and Euro 2024 are expected to boost visibility and sales for sportswear brands, with new sports like breaking (dance) aligning with brands like Nike, Adidas, Under Armour Inc (NYSE:UA), and retailers such as Dick's Sporting Goods Inc (NYSE:DKS), Columbia Sportswear Company (NASDAQ:COLM), and Academy Sports and Outdoors Inc (NASDAQ:ASO). Nike sponsors U.S., Japanese, and South Korean breaking federations, and Adidas signed the world's top female breaker. The sports apparel market is valued at $200 billion annually, and the 2024 events could significantly increase sales for these companies.
December 08, 2023 | 3:21 pm
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POSITIVE IMPACT
Adidas shows signs of recovery with better-than-expected Q3 results and a 50% stock increase this year, despite a significant drop from its 2022 peak.
Adidas's recovery and the upcoming Paris Olympics, which could increase brand visibility and sales, are likely to have a positive short-term impact on the stock.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Academy Sports and Outdoors stands to benefit from the heightened interest in sports during the 2024 Paris Olympics and Euro 2024, potentially increasing sales.
The retailer Academy Sports and Outdoors is expected to see a short-term sales increase due to the 2024 sporting events, which should positively affect the stock.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Columbia Sportswear may experience a sales uptick from the 2024 Paris Olympics and Euro 2024, enhancing brand visibility and consumer interest.
Columbia Sportswear's potential involvement in the Olympics could lead to increased sales and a positive short-term impact on the stock.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Dick's Sporting Goods is positioned to benefit from the 2024 sporting events, which could drive up sales of sporting apparel and equipment.
As a retailer, Dick's Sporting Goods is likely to see a short-term increase in sales due to heightened interest in sporting events, positively impacting the stock.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
Nike's shares are currently trading 36% lower than their November 2021 peak, but the brand's involvement in the 2024 Olympics could provide a sales boost.
Despite the current lower stock price, Nike's sponsorship of breaking federations for the 2024 Olympics is expected to have a positive short-term impact on sales and stock.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Under Armour could benefit from the increased exposure and sales opportunities presented by the 2024 Paris Olympics and Euro 2024.
The brand alignment with new Olympic sports and the overall event exposure suggest a positive short-term impact on Under Armour's stock.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 70