Adidas Posts Tepid 3Q Results in Europe Offset by China and North America Growth; Shares Overvalued
Narrow-moat Adidas reported third-quarter results that place the firm on track to meet our full-year assumptions that call for currency-neutral sales growth of 8% and operating margins of 10.4%. While revenue growth slowed more than management expected (up 8%) because of weakness in Western Europe (down 1%, 28% of fiscal 2017 sales), the firm’s gross margin outperformed, growing 140 basis points to 51.8% (outpacing our 50.7% full-year estimate). The primary driver for gross margin were sales thr...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.