ANTA Sports Products 2020.HK 2020 HK EQUITY: RETAIL Potential Puma acquisition a good move We are positive on ANTA's potential purchase of Puma stake; reiterate Buy ANTA reportedly to have offered to buy 29% of Puma stake ANTA has offered to purchase 29% of Puma's stake (PUM GR, not rated), according to a Reuters report (9 Jan); ANTA, which made the offer a few weeks ago, has secured financing for the potential acquisition, but the situation had stalled, as per the same news report. We believe the potential ...

Vi e w p o i n t | 11 Jan 2026 23:00:04 ET │ 79 pages China Consumer 2026 Outlook: Stock Picking with Five Investment Themes CITI'S TAKE We expect investors to rebalance portfolio profiles of "value" vs "growth" within the China consumer sector in 2026E. With our low expectation of an immediate consumption boost from government policies amid a likely less inflationary environment in 2026E, our stock picking is centered on companies' sustainable level of profit growth (which is gauged by our five investment ...

Question-and-Answer SessionAneesha ShermanBernstein Institutional Services LLC, Research Division Lot of cool products in that video. I'm eager to ask you a little bit more about the pipeline in 2026. But maybe to start with, one of the things that really stands out about the On brand relative to most of the other sportswear brands that you compete with is the premiumness. And this is something you're really passionate about. You recently described it as On super power. So let's start with that. Maybe you ...

On (NYSE:ONON) FY 2026 Conference January 12, 2026 11:30 AM ET Company ParticipantsMartin Hoffmann - CEO and CFOConference Call ParticipantsAneesha Sherman - Managing Director and U.S. Apparel and Specialty Retail AnalystAneesha ShermanOkay, we're going to kick off. Hi, everyone. My name is Anisha Sherman. I cover sportswear, apparel, and soft lines retail at Bernstein. I'm delighted to have this conversation with Martin Hoffmann, CEO and CFO of On. Morning, Martin.Martin HoffmannGood morning.Aneesha Sherma ...

On (NYSE:ONON) FY 2026 Conference January 12, 2026 11:30 AM ET Company ParticipantsMartin Hoffmann - CEO and CFOConference Call ParticipantsAneesha Sherman - Managing Director and U.S. Apparel and Specialty Retail AnalystAneesha ShermanOkay, we're going to kick off. Hi, everyone. My name is Aneesha Sherman. I cover sportswear, apparel, and soft lines retail at Bernstein. I'm delighted to have this conversation with Martin Hoffmann, CEO and CFO of On. Morning, Martin.Martin HoffmannGood morning.Aneesha Sherm ...

On (NYSE:ONON) FY 2026 Conference January 12, 2026 11:30 AM ET Speaker1Okay, we're going to kick off. Hi, everyone. My name is Anisha Sherman. I cover sportswear, apparel, and soft lines retail at Bernstein. I'm delighted to have this conversation with Martin Hoffmann, CEO and CFO of On. Morning, Martin.Speaker0Good morning.Speaker1Before we kick off, we're going to see a short video, and then we're going to jump into the Q&A. A lot of cool product in that video. I'm eager to ask you a little bit more about ...

How much is Puma SE worth? Chinese firm Anta Sports reportedly has made an offer to acquire the 29 percent stake owned by Artémis. Founded in 1992, Artémis is the investment company of the Pinault family. It’s chairman is François-Henri Pinault, who is also chairman of French luxury firm Kering. Pinault has previously said that Puma is “not a strategic asset” and that Artémis was “keeping all its options open.” More from WWD Reuters was first to report Thursday that the offer was made a few weeks ago, b ...

China's Anta Sports Products has offered to buy 29% of struggling German sportswear firm Puma from France's Pinault family, three people with knowledge of the talks said. ...

The story was updated at 4:35 p.m. Wednesday ET. While Under Armour Inc.’s turnaround won’t happen overnight, there’s reason for optimism. More from WWD A regulatory filing on Monday with the Securities and Exchange Commission showed that Canadian investor Fairfax Financial Holdings Ltd. and its affiliates together have acquired beneficial ownership of Class A common stock in Under Armour totaling 22.2 percent, or nearly 42 million shares. The filing said the share acquisition was for “investment purpos ...

Group 1: General Motors (GM) - GM has demonstrated strategic discipline by reducing electric vehicle investments, ending a $10 billion robotaxi program to save $1 billion annually, and refocusing on personal vehicles and Super Cruise [1] - Under CEO Mary Barra, GM is expected to lead U.S. sales among all manufacturers for 2025 following a year of volatility after the announcement of "Liberation Day" [2] Group 2: Citigroup - Citigroup has transformed under CEO Jane Fraser's "Project Bora Bora," with full-year revenues tracking toward $84 billion, the highest since 2010, and all five business segments hitting quarterly records [4] - The stock performance is the best among major U.S. banks, up 67%, trading above tangible book value for the first time in a decade, and Fraser was elected Chair of the Citigroup Board of Directors [3] Group 3: Eli Lilly - Eli Lilly became the first trillion-dollar pharmaceutical company, with sales of its tirzepatide drugs growing by 131% year-over-year, capturing 63% of all branded anti-obesity prescriptions [8] - The company announced a $27 billion investment in four new U.S. manufacturing plants, the largest pharmaceutical commitment in U.S. history, driving the stock up 39% for the year [10] Group 4: Amphenol - Amphenol delivered record sales and earnings in every quarter of 2025, with revenues surging over 50% year-over-year, driven by organic growth in the IT datacom market [12] - The company's acquisition strategy has been effective, acquiring over 50 companies in the past decade, including a $10.5 billion deal to expand fiber-optic capabilities [13] Group 5: Freeport-McMoRan - Freeport-McMoRan achieved a 34% increase in performance, benefiting from the copper Supercycle, with copper prices reaching $12,000 per ton [14] - Despite a tragic mudslide halting production at the Grasberg mine, the company’s diversified portfolio showed resilience, with significant income increases from other mines [15] Group 6: Ralph Lauren - Ralph Lauren transformed from a discount-dependent retailer to a luxury brand, with average unit retail prices doubling and market capitalization reaching an all-time high of $20 billion [16] - Revenues rose 7% to $7.1 billion in fiscal year 2025, with adjusted operating margins expanding 150 basis points to 14% [17] Group 7: Boeing - Boeing delivered 537 aircraft as of November 2025, up from 348 in 2024, and increased production targets for the 787 [19] - The company completed its acquisition of Spirit AeroSystems, enhancing control over production and maintaining a backlog of $640 billion [20] Group 8: Starbucks - Starbucks reached positive comparable sales for the first time in seven quarters under CEO Brian Niccol's "Back to Starbucks" strategy [23] - The company has undergone significant reorganization, including workforce reductions and store closures, while focusing on improving customer experience [24] Group 9: Nike - Nike has prioritized performance improvement across sports, launching successful products and initiatives that have driven over 20% growth in the running category [27] - The company has also strengthened wholesale channels, with revenue accelerating by 8% to $7.5 billion in the latest quarter [28] Group 10: Target - Target is at a pivotal moment with incoming CEO Michael Fiddelke, who has already acted decisively with an 8% workforce reduction [30][33] - The company has a solid foundation with a $100 billion omnichannel business, but faces challenges including market share losses and a vulnerable product mix [31][32] Group 11: Disney - Disney has fortified its position as a streaming powerhouse, with nearly 200 million subscribers and a turnaround from $4 billion in annual losses to profitability [34] - The company has faced challenges but has shown strong performance in box office sales and capital investments in parks and cruise divisions [35]