The 37-year old Spaniard showed grit and determination to fend off long-time friend Justin Rose. In many respects, those qualities are not unlike those being seen over at his sponsor Adidas (ADDYY) . And like Garcia, the athletic wear brand is finally putting up results after many years of being dusted by rivals such as Nike (NKE) and more recently, Under Armour UA.
Adidas is the fastest-growing brand among teens, according to an influential annual survey released Monday by Piper Jaffray. The company's apparel rose to fifth favorite from tenth place a year ago. Meanwhile, Adidas footwear preference reached an all-time high for females and a decade high for males. Piper also found that Adidas has usurped Nike as the top "new brand" worn by males.
The survey questions 5,500 teens with an average age of 16 from across the country.
Only players to earn low amateur honors and win at #TheMasters:
Sergio Garcia— PGA TOUR (@PGATOUR) April 10, 2017
Ben Crenshaw pic.twitter.com/xK248b6rdO
Meanwhile, shares of Adidas are hovering near a 10-year high following very strong full-year earnings and guidance disclosed in March.
Sales last year rose an impressive 18%, while net profit surged 41%. Even the Reebok brand -- always seen as the red-headed stepchild in the Adidas portfolio -- notched a 6% sales increase last year. The brand had double-digit sales increases in its Classics category and mid-single-digit growth in the training and running categories, the latter powered in large part by marketing for Crossfit-related products (Reebok is the exclusive licensee of Crossfit).
In an interview last week with Adidas Head of Global Brands Eric Liedtke (a long-time Adidas employee and board member for the past three years), I asked him flat out how the the brand has managed to rise from the ashes. Liedtke pointed to several factors:
A change in the operating model a few years ago: Liedtke says Adidas has moved to empower its employees, grading their performance on multiple consumer driven scores.
Improved company culture: Liedtke says he frequently travels to Silicon Valley to study the winning/collaborative cultures of tech giants, and then tries to incorporate that back into Adidas. Liedtke told me that one of the first things he did when joining the board was take two buses down to Google to have a couple of day-long offsites to learn about the culture.
Read This or Lose Out
Not a happy Monday for Under Armour: Cringe-worthy could best describe Under Armour's (UA) start to the week. First, key brand ambassador Jordan Spieth had another meltdown at the Masters. Spieth didn't have it straight from the first tee. Secondarily, the company finds its newest Stephen Curry sneaker once again being the butt of rampant social media jokes (the shoe is kind of ugly). And finally, a new influential survey by investment bank Piper Jaffray on Monday said teens don't think the Under Armour brand is hot anymore.
More @UnderArmour shaming -->April 9, 2017
New York City retail is slowly crumbling: Retail vacancies in the City that Never sleeps are on the rise, TheStreet reports in this feature story. With the cost of doing business in the city going through the roof and retailers being hurt by the shift to digital shopping, it's no small wonder companies such as Ralph Lauren (RL) , Starbucks (SBUX) and others are reassessing their presence.
NYC retail is tough right now. pic.twitter.com/dlTqIAl43b— Brian Sozzi (@BrianSozzi) April 10, 2017
Never seen this one before: Look out Nike (NKE) and Under Armour (UA) , supercar maker Lamborghini wants to dabble in the running shoe market. The company recently teamed up with sneaker manufacturer Mizuno to design these new $400 running kicks, inspired by the Aventador of course.
Perfect sneakers for any Lamborghini owner that wants to be "that guy."
Ford launches a hybrid police car: Expect a host of auto announcements this week, as the New York Auto Show kicks into high gear. Ford (F) is out of the block first with the industry's first hybrid police car, TheStreet reports. I'd still like to think my 2015 Dodge Challenger could outrun this thing, but don't plan to find out anytime soon.
Here's what train derailments hint at: It seems as if trains have been derailing regularly in New York City this year, which is no surprise given the aging state of infrastructure in the country. Improving the nation's roads and bridges would require $120 billion a year through 2020, according to a recent U.S. Department of Transportation estimate. But annual spending at all levels of government is a mere $88 billion, points out the Associated Press.
Why Kendall Jenner, why: When she is not making divisive commercials for soda and snacks giant PepsiCo (PEP) , reality star Kendall Jenner (of the Kardashian clan) is wearing absurd jeans. Please Abercrombie & Fitch (ANF) don't start selling these. Thanks.
Jim Cramer and the AAP team hold positions in Starbucks and PepsiCo for their Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells SBUX or PEP? Learn more now.