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Adidas Group (ETR: ADS) 3Q16 RESULTS: STRONG RESULTS; FY16 GUIDANCE MAINTAINED

German athletic and sportswear company Adidas Group reported 3Q16 net sales of €5,413 million, up 13.8% on a reported basis and up 17.0% on a constant-currency basis. Net sales for the quarter were above the consensus estimate of £5,368 million. The strong revenue increase was underpinned by double-digit sales growth in all the group’s geographic markets except Russia.

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Retail Update

Obesity affects 1/3 of Americans; the
number of overweight women in the UK
increased from 49% to 57% between 1993
and 2013
• Beauty norms are changing—“real people”
models
• E-commerce and social media
• Plus-size wearers crave fashionable clothing

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