Financial Data and Key Metrics - Currency-neutral growth of 10.3% in Q3 2024, with underlying adidas business (excluding YEEZY) growing 14% [7] - Gross margin reached 51.3%, the first time adidas business margin exceeded YEEZY [7] - EBIT increased by almost 50% to €598 million, with an EBIT margin of 9.3% [7] - Net income of €469 million, with basic earnings per share of €2.44, up 75% [49] Business Line Data and Key Metrics - Footwear grew by 14%, Apparel by 5%, and Accessories by double digits [20] - Performance products grew by 10%, Sportswear by 4%, and Original basketball partnerships and skateboarding by 20% [21] - Wholesale business grew by 13%, Own Retail by 15%, and E-commerce (excluding YEEZY) by 25% [12][13] Market Data and Key Metrics - North America showed slight growth in the adidas business, with optimistic outlook for Q4 and Q1 [8] - Europe grew by 18% (21% underlying), China by 8%, Japan and South Korea by 17%, and LatAm by 30% [9][10] - Emerging markets grew by 20%, contributing to the overall 10% growth [10] Company Strategy and Industry Competition - The company continues to invest heavily in sales and marketing, with a focus on leveraging future growth [7] - Expansion into new markets such as Iraq, Bangladesh, Uzbekistan, and Nigeria through franchise partners [19] - Focus on localizing products and marketing to cater to regional differences [57] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit growth and a 10% EBIT margin in the medium term [66] - The company aims to be a "good company" in 2024 and a "healthy company" by 2026, with a focus on gross margin between 50%-52% and 12% investment in marketing [58] - The summer of sports events positively impacted growth, fueling momentum into Q3 [6] Other Important Information - The company settled YEEZY-related claims, resulting in a €100 million release in other operating income, offset by a €100 million donation [45] - Inventory levels are healthy, with 80% of inventory being current or future season products [90] - The company plans to open new stores in smaller Chinese cities and expand into new markets with franchise partners [18][19] Q&A Session Summary Question: Ability to maintain current top-line growth - The company expects to maintain double-digit growth in the future, with differences across categories, channels, and markets [66] Question: Impact of expanding SKU counts on profitability - Expanding SKU counts is expected to positively impact profitability, with a focus on having the right products for each market [67][70] Question: Drivers of North America growth - Growth in North America is driven by improved brand heat and positive retailer order books, with a focus on performance and lifestyle products [73] Question: OpEx and restructuring costs - The company incurred one-time costs related to Runtastic and IT infrastructure impairments, with ongoing efforts to optimize operating expenses [75] Question: EBIT guidance and CapEx - The company expects to spend less than the guided €600 million in CapEx for the year, with a focus on disciplined investment [78] Question: Share buyback and cash generation - The company prioritizes investing in the business and being a solid dividend payer, with potential for share buybacks in 2026 [85][86] Question: Inventory management and specialty running progress - The company has managed inventory effectively, with no issues expected in fulfilling Q4 demand [88] - Progress in specialty running is improving, with efforts to rebuild relationships with specialty retailers [88] Question: Full price sell-through and business model changes - The company sees potential for higher gross margins in 2025, with ongoing optimization of the business model [97] Question: Current trading and tariff trends - October trading is positive, with no significant changes in demand or promotional activity [100] - Tariff trends are strong but represent a balanced portion of overall sales, with growth across all categories [100]

Adidas has reached an out-of-court settlement with rapper Ye to end all legal proceedings between them, the sportswear brand said on Tuesday, adding that no money changed hands in the agreement. Adidas and Ye had been embroiled in multiple lawsuits for the past two years, since the German company ended a partnership with the rapper previously known as Kanye West over antisemitic comments he made. "There isn't any more open issues, and there is no… money going either way, and we both move on," CEO Bjorn Guld ...

本文为IPO早知道原创 作者｜Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，阿迪达斯于10月29日发布了2024年第三季度财报。 财报显示，今年第三季度，阿迪达斯全球营收64.38亿欧元，在货币中性下（下同）较上年同期增长 10%，若剔除Yeezy影响，则同比增长14%；营业利润5.98亿欧元，较上年同期增长46.0%。 其中，作为最为重要的战略市场之一， 阿迪达斯大中华区业绩稳中有进，连续六个季度实现"有质量 的增长"。今年第三季度，大中华区营收9.46亿欧元，同比增长9% 。 全市场、全渠道、全品类均实现增长。 本文由公众号IPO早知道（ID：ipozaozhidao）原创撰写，如需转载请联系C叔↓↓↓ 同时，阿迪达斯基础毛利率和库存也在持续改善——今年第三季度，阿迪达斯毛利率51.3%，较上 年同期提升2.0个百分点；截至2024年9月30日，库存较上年同期减少7%，这些都为阿迪达斯未来 业绩稳健增长奠定了坚实的基础。 阿迪达斯全球CEO古尔登表示，"对我们而言，第三季度的增长非常强劲，再次好于预期。尤为值得 一提的是，第三季度阿迪达斯在全市场、全渠道、全品类均实现了增长 ...

Industry Overview - The Zacks Shoes and Retail Apparel industry is currently facing challenges such as rising costs, lower consumer spending on discretionary items, and increased marketing investments, which have negatively impacted profits [1] - Unfavorable currency fluctuations also pose risks for companies with global operations [1] Growth Drivers - Despite challenges, the industry shows promise due to increasing consumer interest in healthy lifestyles, which is driving demand for activewear and athletic footwear [2] - Innovative designs are identified as key growth drivers, with companies focusing on product innovation, store expansion, digital investments, and omnichannel strategies expected to succeed [2] Cost Challenges - Companies are experiencing higher costs due to commodity price inflation, supply-chain disruptions, and increased logistics costs, which are anticipated to impact margins in the short term [4] - Increased marketing spending, operating overhead, and investments in stores and digital operations have raised SG&A costs [4] - The competitive labor market adds further pressure on profit margins across the industry [4] Consumer Demand Trends - Strong consumer demand for activewear, athleisure, and footwear is expected to continue throughout 2024, driven by a growing focus on fashion and health [5] - Companies are concentrating on product innovation and enhancing e-commerce capabilities to capture market share [5] E-Commerce Investments - E-commerce is a key growth driver in the athleisure market, with companies building their customer base through digital platforms [6] - Investments in faster delivery and improved shopping experiences are expected to boost both store and online traffic [6] Industry Performance - The Zacks Shoes and Retail Apparel industry has underperformed compared to the broader Zacks Consumer Discretionary sector and the S&P 500, with a collective decline of 5.9% over the past year [9] - The industry currently holds a Zacks Industry Rank of 168, placing it in the bottom 33% of over 250 Zacks industries, indicating dull prospects for the near term [7][8] Valuation Metrics - The industry is trading at a forward 12-month price-to-earnings (P/E) ratio of 26.42X, higher than the S&P 500's 22.24X and the sector's 18.8X [10] Company Highlights - **Adidas**: Expected to benefit from strong demand and improved margins, with a consensus estimate for 2024 sales growth of 9% and earnings of $1.97 per share [11][12] - **Birkenstock**: Anticipates significant growth with a consensus estimate indicating 21.3% sales growth and 208.9% earnings growth for 2024 [13][14] - **Steven Madden**: Focused on digital innovation and international market expansion, with a consensus estimate for 2024 sales growth of 12.7% [15][16] - **Wolverine**: Aiming for $150 million in annual cost savings for 2024, with a consensus estimate for earnings of 85 cents per share, indicating significant growth [17][18] - **Carter's**: Emphasizing essential core products and efficient cost management, with a consensus estimate indicating declines of 4.6% in sales and 21.3% in earnings for 2024 [19][20]

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today: Carnival Corporation & plc (CCL) : This leisure travel services provider has seen the Zacks Consensus Estimate for its current year earnings increasing 7.6% over the last 60 days. TransMedics Group, Inc. (TMDX) : This medical technology company has seen the Zacks Consensus Estimate for its current year earnings increasing 11.8% over the last 60 days. Community Financial System, Inc. (CBU) : This bank holding company has seen the Zacks ...

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Adidas AG (ADDYY) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question. Adidas AG is one of 273 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #8 within the Zacks Sector Ran ...

No investor likes a recommendation downgrade. Investors clearly weren't ready to play with shares of Adidas (ADDYY -1.94%) on the second trading day of the week. The athletic wear company's U.S.-traded shares lost nearly 2% in value on a day when the market generally did well, with the S&P 500 index closing 0.5% higher. Adidas didn't have any negative news of its own to report, but an analyst's new take on the stock triggered the sell-off. Downgraded from buy to hold The person behind the move was Barclays ...

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Adidas AG (ADDYY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out. Adidas AG is one of 280 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #10 w ...

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Adidas AG (ADDYY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question. Adidas AG is a member of our Consumer Discretion ...

Alex, we have time for two more questions. Operator Monique Pollard Perfect. Thank you. Sebastian Steffen Thanks. The next question comes from the line of Jonathan Komp, Baird. Please go ahead. Yes. So there shouldn't be any misunderstanding, I'm confident on double-digit growth in the second half as we promised you. What I said that some of the orders that we meant for Q3 was actually delivered in Q2 because our retail partner was screaming for product. That's what I tried to say. But the demand will be do ...