Positive Takeaways from Adidas’ Results for Shenzhou's Order Outlook
We think Shenzhou’s major client Adidas’ strong second-quarter results bode well for the profit outlook for Shenzhou. On a constant currency basis, Adidas’s year-over-year growth in top line accelerated from 19% in the first quarter to 20% in the second quarter. Adidas raised its 2017 full-year top-line growth guidance to 17%-19% from 12%-14% and operating profit to 24%-26% from 13%-15% in 2017, giving us some assurance of the profitability and orders for Shenzhou in the near term.We note that ...
Shenzhou International Group Holdings is an investment holding company. Through its subsidiaries, Co. is principally engaged in the manufacturing of knitwear on an Original Equipment Manufacturer basis. Co. focuses on producing sport wear and casual wear with major international clients including UNIQLO, ADIDAS NIKE, and PUMA. In addition, Co. is involved in property leasing in Hong Kong; import and export of commodities in China and Hong Kong; property management in China; trading company in Macau, Japan and China; and retail in China.
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