Report
David Swartz
EUR 100.00 For Business Accounts Only

Narrow-Moat Adidas Riding a Fashion Wave to Stay Ahead of Competition

Narrow-moat Adidas reported a solid first quarter of 2019 on a gross margin improvement and strength in China. Adidas’ first-quarter EPS from continuing operations of EUR 3.17 beat our forecast of EUR 2.93 as its gross margin of 53.6% was well above our forecast of 51.3%. Adidas’ first-quarter sales of EUR 5.88 billion beat our forecast of EUR 5.79 billion, partly due to currency-neutral sales growth of 16% in greater China. We think Adidas continues to gain share on smaller brands in China, whe...
Underlying
adidas AG ADS

Provider
Morningstar
Morningstar

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.

Analysts
David Swartz

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