Adidas's turnaround under CEO Bjorn Gulden is gaining commercial traction as the Samba/Gazelle/Spezial terrace franchise expands and full-price sell-through improves. Yeezy inventory has been monetized with proceeds dedicated to charity, removing the overhang. China direct-to-consumer rebuild is delivering double-digit growth from a low base. Operating margin recovery toward mid-single-digits in 2026 has multiple levers (gross margin mix, marketing leverage, opex discipline). Nike's organizational distraction creates share-gain opportunity.
Thesis reviewed May 29, 2026
Adidas AG is headquartered in Germany, which is currently showing moderate signals.
🇩🇪Germany52NEUTRALView Germany risk detail →🛍Consumer22NEUTRAL| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| JD | JD.com Inc | 27 | +13% | ↑2% | EARLY |
| NIO | NIO Inc | 27 | -10% | ↑2% | AVOID |
| LI | Li Auto Inc | 27 | +7% | ↑2% | NEUTRAL |
| BTI | British American Tobacco PLC | 27 | +14% | ↑2% | EARLY |
| DEO | Diageo PLC | 27 | +8% | ↑2% | NEUTRAL |
| RACE | Ferrari NV | 27 | +17% | ↑2% | EARLY |
| TM | Toyota Motor Corporation | 27 | +12% | ↑2% | EARLY |
Investors who hold ADDYY may also have indirect exposure through these country funds.
Adidas raises full-year guidance on lifestyle franchise momentum
Samba/Gazelle waitlists continue across European DTC channels
Estimates · Yahoo Finance · Not audited figures