The astronomical growth in adidas’ popularity is undeniable, even from the perspective of the most die-hard Nike fan. Is it the collaborations? Palace, Yohji Yamamoto, Yeezy, Pharrell, to name a few. Is it the flurry of new silhouettes? NMD, Ultra Boost, Tubular and so on. Or is it the renaissance of the Stan Smith, the slides, and the Gazelles?
The Portland Business Journal recently reported that adidas's first-quarter sales are up 31%, stock is performing at a rate of +31.54% YTD, while Nike sitw behind at -11.43%. Nasdaq has commended adidas's long-term earnings-per-share growth which currently sits at 18.8%. The share growth essentially means that stock is growing fast and should continue to do so.
In addition to this, while the company stock currently has an average rating on hold, ten equities research analysts have given it a “buy” rating. This comes following news that adidas has sold Mitchell & Ness to focus on core product. Mark King, head of adidas North America, told the Portland Business Journal, “It’s the coolest brand in sports right now. And we’re going to use that coolness in a more effective way than we ever did before.”
Speaking of cool, we hear the next adidas Originals x Palace drop this Saturday will be pretty rad.