Streetbeat News

ADDDF

Adidas AG

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

CEO

Kasper Rorsted

Industry

Hosiery and Sock Mills

Open

235.50

Mkt cap

41B

Volume

High

235.50

P/E Ratio

102.81

52-wk high

270.25

Low

231.33

Div yield

0.00

52-wk low

175.25

Adidas AG reported a 75% dip in Q2 EPS and a 4.5% decline in revenues to €5.34 billion. The decline was due to a reduction in high inventory levels, particularly in North America and Greater China. However, the company benefited from the first sale of some of its Yeezy inventory, generating revenues of around €400 million. Adidas has revised its outlook for 2023, expecting currency-neutral revenues to decline at a mid-single-digit rate, an improvement from the earlier high-single-digit rate prediction.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 12:40 pm

Adidas AG plans to sell more Yeezy shoes globally from its inventories throughout August. The proceeds will be donated to organizations combating discrimination and hate. The range will include popular existing designs. The second round of inventory stock will feature products from 2022. Since terminating the YEEZY partnership in October, Adidas has been exploring multiple scenarios for the potential use of the existing YEEZY inventory. Adidas shares were up by 2.68% to $101.78 on the last check Friday.

Portfolio Pulse from Nabaparna Bhattacharya

July 28, 2023 | 2:10 pm

Nike, Inc (NYSE:NKE) is expected to forecast full-year profit below Wall Street estimates due to inflation affecting demand for its products from wholesalers like Foot Locker Inc (NYSE:FL) and Hibbett Inc (NASDAQ:HIBB). Several analysts have trimmed their FY24 expectations for Nike's EPS and slashed their price targets on the company's stock. Despite this, analysts expect a robust rebound in China to offset the hit to sales from cooling consumer appetite in the North American region.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 11:44 am

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