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4-Traders Homepage  >  Equities  >  Xetra  >  Adidas    ADS   DE000A1EWWW0

ADIDAS (ADS)
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Adidas : sees ongoing sourcing shift from China to Vietnam

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05/09/2018 | 12:30pm CEST
FILE PHOTO: An Adidas sign is seen before the company's annual news conference in Herzogenaurach

BERLIN (Reuters) - The chief executive of Adidas expects a shift in its sourcing of footwear from China to Vietnam to continue although he shrugged off concerns on Wednesday about the possible imposition of U.S. tariffs on Chinese-made shoes.

Factories in Vietnam produced 44 percent of Adidas footwear volume in 2017, up from 31 percent in 2012, while Chinese suppliers made 19 percent, down from more than 30 percent in 2012, Kasper Rorsted told a annual meeting of shareholders.

"I'm not going to rule out that this trend is going to continue," he said, adding: "China is still an important procurement market, irrespective of trade duties."

Rorsted noted that there was still a lot of uncertainty over what sectors could face new U.S. tariffs. "We might be hit by import duties but it will also apply to our competitors."

German rival Puma, which makes about a third of its products in China, said last month that it is working on contingency plans to move some production from China to other Asian markets if U.S. tariffs are imposed.

(Reporting by Emma Thomasson; Editing by Arno Schuetze)

Stocks treated in this article : Puma AG Rudolf Dassler Sport, adidas
Stocks mentioned in the article
ChangeLast1st jan.
PUMA AG RUDOLF DASSLER SPORT 0.00% 470.5 Delayed Quote.29.61%
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Financials (€)
Sales 2018 22 403 M
EBIT 2018 2 355 M
Net income 2018 1 655 M
Finance 2018 426 M
Yield 2018 1,61%
P/E ratio 2018 23,53
P/E ratio 2019 20,08
EV / Sales 2018 1,79x
EV / Sales 2019 1,65x
Capitalization 40 452 M
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Technical analysis trends ADIDAS
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 40
Average target price 217 €
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Kasper Bo Rørsted Chief Executive Officer
Igor Landau Chairman-Supervisory Board
Harm Ohlmeyer Chief Financial Officer
Willi Schwerdtle Deputy Chairman-Supervisory Board
Wolfgang Jäger Member-Supervisory Board
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1st jan.Capitalization (M$)
ADIDAS16.00%47 362
ANTA SPORTS PRODUCTS LTD26.12%15 359
PUMA AG RUDOLF DASSLER SPORT29.61%8 308
YUE YUEN INDUSTRIAL (HOLDINGS) LTD-27.48%4 683
POU CHEN CORPORATION--.--%3 592
DECKERS OUTDOOR CORP30.39%3 293

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