Sportswear Stocks Stage Broad Recovery as adidas Posts Over 1 Billion Euros in Q3 Operating Profit and Raises Full-Year Guidance

Stock News10-23

Sportswear shares staged a broad rebound, with Topsports International Holdings Ltd (HKEX: 06110) climbing 7.45% to HK$1.01, 361 Degrees International Ltd (HKEX: 01361) rising 3.66% to HK$4.82, ANTA Sports Products Ltd (HKEX: 02020) gaining 3.36% to HK$75.45, and Li Ning Co., Ltd. (HKEX: 02331) up 3.21% to HK$12.85.

The rally followed adidas AG (OTC: ADDYY) reporting its third-quarter results, with global revenue reaching 7.252 billion euros, up 9% year on year; operating profit of 1.008 billion euros, up 37% year on year; and gross margin improving 2.5 percentage points to 54.3%.

The company also raised its full-year earnings guidance, lifting its 2026 full-year operating profit forecast from 2.3 billion euros to 2.5 billion euros, and expects full-year currency-neutral revenue growth of 9% to 10%.

Shenwan Hongyuan noted that within the sportswear sector, ANTA Sports Products Ltd (HKEX: 02020) is its top pick. In the first half, ANTA and its other brands both exceeded their initial guidance, FILA met guidance, and the integration of Jack Wolfskin progressed faster than expected, giving the company strong potential to beat expectations and setting the stage for a "Davis double play."

The brokerage expects ANTA's core brand sales to be flat year on year in the third quarter of 2026, FILA to grow by a low single-digit percentage, and the outdoor brand portfolio (Descente, Kolon Sport, and others) to sustain high growth of 30% to 35%.

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(HKEX: 02331) up 3.21% to HK$12.85.\nThe rally followed adidas AG (OTC: ADDYY) reporting its third-quarter results, with global revenue reaching 7.252 billion euros, up 9% year on year; operating profit of 1.008 billion euros, up 37% year on year; and gross margin improving 2.5 percentage points to 54.3%.\nThe company also raised its full-year earnings guidance, lifting its 2026 full-year operating profit forecast from 2.3 billion euros to 2.5 billion euros, and expects full-year currency-neutral revenue growth of 9% to 10%.\nShenwan Hongyuan noted that within the sportswear sector, ANTA Sports Products Ltd (HKEX: 02020) is its top pick. 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