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In The News: Birkenstock, Global Port Tracker, Adidas, Teen Survey


Birkenstock shares were down $9.62, or 20.9 percent, over the first three days of trading as a public stock, closing at $36.38 on Oct. 13 after an Oct. 11 offering price of $46.00 a share.

Import cargo volume, having already reached its peak for the year, is projected to gradually slow for the remainder of 2023, according to the monthly Global Port Tracker. Imports in August, the latest month where final numbers are available, hit 1.96 million Twenty-Foot Equivalent (TEU) units but were down 13.5 percent year-over-year. Total U.S. import cargo volume is projected to come at 22.1 million TEU, which would represent a 13.5 percent year-over-year decline from 2022’s 25.5 million TEU.

Adidas, citing the positive impact from Yeezy sales in Q2 and Q3 and strong revenues from core styles, has raised its FY outlook. Adidas is now forecasting an annual operating loss of about $105.4 million, a 78 percent improvement from prior guidance and total revenues to be down by low-single digits instead of down mid-single digits as previously estimated. According to preliminary Q3 figures, Adidas total sales fell 6 percent in euro to the equivalent of $6.3 billion and a 27.5 percent decline in operating profit to approximately $431 million.

New Balance surpassed Vans as the fourth most favorite brand of teenagers in the latest Piper Sandler “Taking Stock with Teens” survey that was conducted in September. Among other key findings—Crocs ranked sixth and HeyDude ranked seventh most popular footwear brands. On and Hoka were the third and fifth-most favorite athletic footwear brands for upper income teens. Overall, Nike remained the most popular athletic brand for teens in both footwear (61%) and apparel (35%).