The group has published better-than-expected figures for Q3 20. The encouraging improvement in Russia/CIS, Europe, and North America has been slightly offset by the sales contraction in the franchise in China. The relatively less exposure to North America and the footwear business make the group still lag behind its industry peer.
The updated conditional outlook for FY 20 was broadly in line with current consensus and below our estimates, showing an uncertain year-end trading environment.
10 Nov 2020
Cautious about the resurgence of Coronavirus
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Cautious about the resurgence of Coronavirus
adidas AG (ADS:WBO), 0 | adidas AG (ADS:BSE), 0 | adidas AG (ADSN:MEX), 0 | adidas AG (ADS.EUR:SWX), 0 | adidas AG (ADS:SWX), 0 | adidas AG (1ADS:MIL), 0 | adidas AG (ADS:ETR), 0 | adidas AG (ADDDF:OTC), 0 | adidas AG (0OLD:LON), 0 | adidas AG (ADID:BUD), 0
- Published:
10 Nov 2020 -
Author:
Jie Zhang -
Pages:
3
The group has published better-than-expected figures for Q3 20. The encouraging improvement in Russia/CIS, Europe, and North America has been slightly offset by the sales contraction in the franchise in China. The relatively less exposure to North America and the footwear business make the group still lag behind its industry peer.
The updated conditional outlook for FY 20 was broadly in line with current consensus and below our estimates, showing an uncertain year-end trading environment.