Streetbeat News

ADDDF

Adidas AG

https://www.adidas-group.com/

CEO

Kasper Rorsted

Industry

Hosiery and Sock Mills

Open

244.94

Mkt cap

44B

Volume

300

High

246.71

P/E Ratio

52.91

52-wk high

274.60

Low

238.99

Div yield

0.00

52-wk low

207.80

Adidas expects unfavorable currency effects to significantly impact its profitability this year. Excluding Yeezy sales, currency-neutral revenues increased by 16% during the quarter. These effects are negatively impacting both reported revenues and gross margin development in 2024.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 3:54 pm

Adidas has increased its full-year guidance following better-than-expected Q2 results. The company assumes the sale of its remaining Yeezy inventory at cost, resulting in additional sales of around €150 million with no further profit contribution. Revenues grew 9% to €5.822 billion.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 3:53 pm

Adidas AG (OTC:ADDYY) (OTC:ADDDF) raised its 2024 profit outlook after a better than expected Q1, signaling recovery from its first annual loss in over 30 years and struggles in North America. CEO Bjorn Gulden's efforts, including inventory reduction, are showing positive signs. Meanwhile, Nike Inc (NYSE:NKE) faces challenges in innovation due to remote work but is implementing a restructuring plan to save $2 billion over three years.

Portfolio Pulse from Upwallstreet

April 17, 2024 | 5:31 pm

Nike Inc (NYSE:NKE) will become the official outfitter for all of Germany's national soccer teams starting in 2027, ending Adidas AG's (OTC:ADDDF) (OTC:ADDYY) 70-year legacy with the German Soccer Federation (DFB). The agreement, lasting until 2034, was influenced by Nike's financial offer and vision for promoting amateur sports and sustainable development. Adidas, facing challenges including a $1.3 billion sales hit from dropping the Yeezy brand, acknowledged the DFB's decision. The sports apparel market is expected to grow with upcoming major sports events. Nike's stock has risen 11% in the past six months, but traded lower by 7.12% at $93.64 in the last premarket check.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 1:33 pm

Adidas and Apple are considering shifting manufacturing away from China due to security concerns and strained US-China relations. Meanwhile, McDonald's and Starbucks are expanding their presence in China, with McDonald's planning to open 3,500 new stores and Starbucks investing $220 million in a facility. Despite overall foreign investment decline in China, American fast-food chains see the large market as an opportunity. The US government continues to encourage companies to reduce reliance on China for critical materials and high-tech products.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:35 pm

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.

Portfolio Pulse from Neil Dennis

December 08, 2023 | 3:21 pm

At AWS re:Invent 2023, AWS CEO Adam Selipsky discussed AWS's achievements and strategies, focusing on generative AI and the Bedrock platform. AWS announced the Trainium 2 chip and Graviton 4, and a partnership with Nvidia to bring DGX Cloud to AWS. AWS also plans more data centers and introduced Amazon S3 Express One Zone and S3 Intelligent Tiering. Speculation exists about AWS unveiling 'Olympus,' a large language model. Amazon CodeWhisperer and Amazon Detective updates were also featured. AMZN shares dropped by 0.62%.

Portfolio Pulse from Anusuya Lahiri

November 28, 2023 | 6:44 pm

Adidas AG reported a 1% increase in currency-neutral revenues for Q3 FY23 to €5.999 billion, driven by growth in all regions except North America. The second product drop of Yeezy inventory generated revenues of around €350 million in Q3. Footwear revenues grew 6% on a currency-neutral basis, while apparel sales declined 6%, and accessories revenues were down 3%. The company's operating profit amounted to €409 million with an operating margin of 6.8% versus 8.8% a year ago. Inventories are now down 23% to €4.849 billion versus €6.315 billion last year. For FY23, Adidas expects currency-neutral revenues to decline at a low-single-digit rate.

Portfolio Pulse from Shivani Kumaresan

November 08, 2023 | 1:31 pm

Adidas AG has launched its new Adizero Adios Pro Evo 1 sneakers, priced at $500 per pair, which is $225 more expensive than Nike's equivalent. The shoes, praised for their lightness, prioritize speed over durability. However, the high price tag has raised questions about their appeal to amateur runners. Adidas's shares traded lower by 1.19% to $84.58 on the last check Tuesday.

Portfolio Pulse from Nabaparna Bhattacharya

September 26, 2023 | 3:16 pm

Needham analyst Anna Andreeva initiated coverage on On Holding AG (ONON) with a Buy rating and a price target of $40. Despite anticipated door closures in EMEA creating a $25 million revenue headwind, the DTC business outpacing Wholesale is expected to drive upside to margins. The brand is still in the early stages of its growth lifecycle with potential for high-teens EBITDA margin. For FY23, revenues of $1.782 billion, with EBITDA of $267 million are expected.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2023 | 6:15 pm

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