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Performance of major apparel companies in Q3 2023

Adidas AG (ETR: ADS)

In Q* ****, the revenue of Adidas AG increased by * per cent in constant currency terms and decreased by * per cent to €*.*** billion (€*.*** billion in Q* ****) in euro terms. The * per cent growth reflected the company’s conservative sell-in approach, aimed at reducing high inventory levels, improving sell-through, and focusing on full-price sales across channels. The remaining Yeezy inventory continued to impact the quarter’s sales. Revenue of around €*** million was generated in the quarter from the second product drop, which remained below last year&#**;s numbers. As a result, currency-neutral revenues, excluding Yeezy, increased by * per cent on a quarter-on-quarter (QoQ) basis. At the same time, the company&#**;s inventory levels were down by ** per cent—a little more than planned. However, the company expects inventory levels in the US market to continue impacting the business for a while.