安踏体育版图再添一员。 1月27日早间，安踏体育用品有限公司（02020.HK，安踏体育）在港交所公告称，1月26日，公司与 Pinault家族的投资公司Groupe Artémis达成购股协议，收购全球运动品牌PUMA（彪马）所属公司 PUMA SE 29.06%的股权。交易对价为15.055亿欧元（不含税），约合人民币122.78亿元。 公告指出，收购彪马股权后，安踏将成为其最大股东。交易预计有望于2026年底前完成，但仍需要得到 相关监管部门批准及满足惯例交割条件。此次股权收购资金全部来源于安踏集团的内部自有现金储备。 交易完成后，安踏集团拟寻求向监事会委派合适的代表，后者将与其他监事会成员及员工代表密切协 作，同时致力于保持彪马深厚的品牌身份与基因。集团未来将审慎评估双方是否有进一步深化合作关系 的可能性。集团目前没有对彪马发起要约收购的计划。 近年来，安踏集团执行"单聚焦、多品牌、全球化"的发展战略。从一家立足本土的运动品牌起步，通 过"买买买"，目前安踏集团已成为拥有十多个全球品牌、市值全球前三的多品牌体育用品集团，并进入 全球化"深水区"。 截至1月27日收盘，安踏体育股价报77.9港元/股，涨 ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Amer Sports, Inc. (AS) , which belongs to the Zacks Leisure and Recreation Products industry, could be a great candidate to consider.This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 116.00%.For the most recent quarter, Amer Sports, ...

Company Overview - Amer Sports, Inc. is a Finland-based provider of sports equipment, apparel, footwear, and related accessories, operating through segments such as Technical Apparel, Outdoor Performance, and Ball & Racquet Sports [4] Investment Outlook - Amer Sports, Inc. is identified as a stock under $50 with a positive investment outlook, supported by a price target increase from $45 to $46 by Truist, maintaining a Buy rating due to "durable growth levers across the business" [1] - The company has modest brand awareness in the U.S., low competition, and an appealing higher-income clientele, which are expected to contribute to substantial long-term growth prospects [2] - The management has outlined a long-term model through 2030, targeting a compound annual growth rate (CAGR) in the low double-digits to mid-teens and an annual increase in adjusted operating margin of 30-70 basis points or more [2] Growth Potential - Amer Sports is well-positioned to achieve a five-year EPS CAGR of over 25% and targets FY30 EPS of over $2.50, bolstered by multiple growth projects across several brands and a successful execution history in China [3]

Investment Rating - The report assigns an "Outperform" rating to Amer Sports with a target price of $46, indicating a 22% upside potential. Anta Sports is rated "Market-Perform" with a target price of HKD 89, suggesting an 8% upside. Li Ning is rated "Underperform" with a target price of HKD 17, indicating a 16% downside potential [6][7]. Core Insights - China's sportswear market is transitioning from high-growth expansion to mature growth, with total market growth moderating to approximately 6% CAGR through 2030E. The outdoor segment is expected to maintain a structural outperformance at around 12% CAGR [1][10]. - The market is shifting from "land-grab" growth to share reallocation and premiumization, with success increasingly reliant on brand differentiation, technical innovation, and channel efficiency [1][19]. - Technical specialists are gaining market share within the outdoor category, with brands like Arc'teryx projected to increase their share from approximately 7% in 2019 to around 20% by 2025E [3][23]. Market Dynamics - The outdoor segment is now the largest category, with growth moderating to +12% YoY from a previous CAGR of 29% (2021–2025E). Apparel is leading category performance at +18% YoY, while sneakers grew +14% YoY [2][13]. - The sportswear market is expected to normalize to mid-single-digit growth through 2030E, structurally outperforming broader retail by approximately 2 percentage points annually [11][21]. - The exercising population in China is projected to reach 630 million by 2035E, supporting long-term structural demand for sportswear [11][37]. Competitive Landscape - Market share is fragmenting away from generalists toward specialized brands, with Anta maintaining approximately 21% share and Li Ning around 9% by 2030E. The "Others" category is expected to decline significantly [15][51]. - Premium brands are forecasted to hold a stable share of around 54% through 2030E, while mass brands will remain at approximately 46% [12][48]. - Brand performance is highly polarized, with technical specialists like Arc'teryx and Salomon capturing significant growth, while many established brands stagnate or decline [4][16]. Brand Performance - Top performers in 2025 include Arc'teryx (+167%), Salomon (+150%), and Descente (+84%), while established brands like Li Ning and Nike are underperforming with growth rates below the market average [4][17]. - The report highlights that premium positioning alone is insufficient for success; continuous innovation and strong local relevance are critical [18][30]. Outlook and Implications - The sector is expected to shift from category expansion to share reallocation, with winners being those who can defend premium positioning and expand into adjacent categories [19][25]. - The outdoor segment is projected to continue outpacing overall sportswear growth, with a forecasted CAGR of approximately 13% from 2025 to 2030E [22][26].

Group 1: Manufacturing Sector - The report highlights a positive outlook for the textile manufacturing sector as tariff impacts are easing, leading to improved export conditions. The demand side shows a mixed performance in global apparel retail, with domestic recovery being weak while overseas apparel demand remains stable. The export decline has narrowed following progress in US-China trade negotiations, and manufacturing orders are expected to improve in 2026 due to a healthy inventory level among downstream brand clients [3][6][13]. - Key companies to watch include Shenzhou International, which has a lower exposure to the US market and is expected to see marginal improvements from major clients, and Huayi Group, which is experiencing strong growth from new clients and is ramping up production capacity [3][21][29]. Group 2: Sportswear Sector - The domestic sportswear market is showing signs of weak recovery, with high-end brands like Li Ning and Tebu International demonstrating resilience. The report anticipates a recovery in 2026 driven by macroeconomic improvements and policy catalysts, particularly with the upcoming Olympic events [3][6][19]. - Internationally, high-end sports brands are experiencing differentiated growth dynamics. ON is maintaining a strong brand image and expanding in the Asia-Pacific market, while Amer Sports is benefiting from its multi-brand strategy. However, brands like Lululemon and Deckers are facing short-term pressures in the North American market [3][6][19]. Group 3: Luxury Goods Sector - The luxury goods market in China is showing signs of gradual recovery, driven by wealth effects from the capital market and stabilization in the real estate market. Sales from luxury groups like LVMH and Richemont have improved significantly in Q3 2025, indicating a positive trend in the luxury sector [3][7]. - The report notes a shift in consumer behavior, with a loss of "aspirational consumers" and an increase in the importance of top-tier customers. This shift is leading to a focus on value, experience, and cost-effectiveness in luxury consumption, which is benefiting local high-end brands [4][7].

Core Viewpoint - Amer Sports Inc. is identified as a promising investment opportunity with strong growth potential over the next three years, supported by positive analyst ratings and market conditions [1][2][3]. Analyst Ratings - Deutsche Bank resumed coverage of Amer Sports with a Buy rating and a price target of $49, citing a favorable macroeconomic environment and improved weather conditions as key factors for expected strong performance through H1 2026 [1]. - UBS raised its price target for Amer Sports to $58 from $54 while maintaining a Buy rating, highlighting the resilience of the US consumer and the emerging Health & Wellness 2.0 trend as supportive of earnings potential [2]. - Wells Fargo increased its price target for Amer Sports to $45 from $40, maintaining an Overweight rating, and expressed optimism about the retail sector as it heads into 2026 [3]. Company Overview - Amer Sports Inc. is engaged in the design, manufacture, marketing, distribution, and sale of sports equipment, apparel, footwear, and accessories, operating through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports [4].

Core Insights - The article highlights that Amer Sports has been recognized as a "Top Employer in China 2026" due to its strategic talent development, organizational cohesion, and deep commitment to employee experience [1][3]. Group 1: Certification and Evaluation - The "2026 China Top Employer" certification is based on a unified assessment framework covering nearly 2,500 companies globally, evaluating employer practices across various dimensions such as business strategy, digitalization, employee well-being, mission, and values [3]. - Amer Sports integrates talent development and organizational collaboration into daily management, leading to employees consistently achieving personal records in both "height and width" each year in the Greater China region [3]. Group 2: Employee Experience and Initiatives - Amer Sports has made long-term and specific investments in "employee experience," launching the AMPOWER YOU comprehensive compensation and benefits program in Greater China to meet diverse employee needs at different life stages [5]. - The company promotes sustainability through various internal initiatives, such as donating old clothes and engaging in environmental activities, making sustainable practices a part of employees' lifestyles [5]. - The "Dreams in Sports" program encourages employees to pursue their athletic dreams outside of work, offering a dream fund and sports leave to help them explore their potential [5]. Group 3: Organizational Culture and Future Focus - Amer Sports aims to create a high-cohesion, strong-connection, and growth-oriented workplace environment, fostering inclusivity, trust, and mutual support as norms in team collaboration [5]. - The company plans to continue focusing on strategic talent reserves and the full-cycle employee experience, embedding the spirit of sports into team culture as a continuous driving force [5].

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Core Viewpoint - The article emphasizes the importance of confirming the sustainability of stock trends for successful short-term investing, highlighting that price movements should be supported by strong fundamentals and positive earnings estimates. Group 1: Stock Performance - Amer Sports, Inc. (AS) has shown a solid price increase of 25% over the past 12 weeks, indicating strong investor interest in the stock [4] - The stock has maintained a price increase of 0.4% over the last four weeks, suggesting that the upward trend is still intact [5] - AS is currently trading at 82.7% of its 52-week high-low range, indicating a potential breakout opportunity [5] Group 2: Fundamental Strength - AS holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [6] - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [7] Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for identifying stocks like AS that are on an uptrend supported by strong fundamentals [3] - There are additional stocks that meet the criteria of the "Recent Price Strength" screen, providing further investment opportunities [8]

Group 1 - Deutsche Bank has resumed coverage of key stocks in the global brand, discount retail, and professional beauty sectors, expressing optimism as it enters 2026, anticipating a "risk-on" macro environment despite potential fluctuations [1] - Analyst Christina Katay noted that the revenue trend in the first half of the year will remain robust due to favorable weather conditions and increased tax refunds, which are seen as drivers for same-store sales growth [1] - The bank estimates that the "Great Beauty Act" will increase tax refunds by approximately $55 billion, with total tax refunds in 2024 projected at $461 billion [1] Group 2 - The expected tax refunds will primarily benefit low- to middle-income consumers facing cost-of-living challenges, while affluent households are anticipated to benefit from increased state and local tax (SALT) deductions [2] - Deutsche Bank has assigned a "Buy" rating to stocks including Amphenol (AS.US), Birkenstock (BIRK.US), Ulta Beauty (ULTA.US), Ralph Lauren (RL.US), Ross Stores (ROST.US), and TJX Companies (TJX.US) [2] - The bank holds a more conservative view on stocks such as Bath & Body Works (BBWI.US), Burlington Stores (BURL.US), Nike (NKE.US), and Lululemon (LULU.US), assigning them a "Hold" rating [2]