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adidas AG ADS Stock Quote

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Morningstar‘s Stock Analysis ADS

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

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A Turnaround May Be Closer Than Widely Believed in Apparel Manufacturing and Retailing

David Swartz Equity Analyst

Analyst Note

| David Swartz |

Investors have forsaken apparel manufacturers and retailers, which we believe present numerous attractive opportunities. These firms have struggled with many issues in 2022, including higher inventories, lower operating margins, inflation, logistical challenges, tough comparisons with 2021, low international travel, and an extremely strong U.S. dollar. However, we see positive signs. In recent weeks, shipping has shown signs of normalizing, and gas prices have dropped. Moreover, we anticipate inventory levels will improve as manufacturers cancel shipments and sales increase in the holiday season (as is typical). In 2023, we anticipate the benefits of investments in supply chains and other operations by many apparel firms will become more apparent. Consequently, despite widespread pessimism in the market, we believe now is a good time to consider the many apparel stocks trading well below our fair value estimates.

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Key Statistics ADS

Company Profile ADS

Business Description

Adidas designs, develops, produces, and markets athletic and leisure apparel, footwear, accessories, and sports equipment. Under its eponymous brand, it produces apparel for competitive athletics, casual activewear, and casual fashion. Its fashion brands include Yeezy, Ivy Park, and Y-3. Adidas sells its products in more than 160 countries through more than 2,100 owned retail stores, 15,000 mono-branded franchise stores, 150,000 wholesale doors, and more than 50 e-commerce sites. The company was founded in 1949 in Germany.

Adi-Dassler-Strasse 1
Herzogenaurach, BY, 91074, Germany
T +49 9132840
Industry Footwear & Accessories
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 60,661