Risk Managed Long Term Investing for Pros
Hedgeye CEO Keith McCullough handpicks the “best of the best” long and short ideas delivered to him by our team of over 30 research analysts across myriad sectors.
Takeaway: To Adidas' credit, it does a very good job of launching a new technology (and explaining to consumers what the technical merits are.)
Editor's Note: This is a complimentary research excerpt from Retail Sector Head Brian McGough. For more information on our services click here.
- "adidas launches Climachill, a revolution in active cooling apparel technology. The line incorporates innovative fabric woven with titanium and industry-first 3D aluminium cooling spheres. The technology provides an instant chilling sensation to help athletes' performance in warm conditions – lowering their body temperature so they can train harder, run longer, retain their focus and compete at the highest level."
- "Climachill pieces – including running, training and tennis tees, tanks and shorts – are available now from $40 to $60 on adidas.com and in select retailers nationwide."
Takeaway from Hedgeye’s Brian McGough:
Okay, so it's not exactly the best winter to be introducing something called Climachill. But, to Adidas' credit, it does a very good job of launching a new technology and then explaining to consumers what the technical merits are.
While it might seem like an obvious marketing strategy, this is the exact area where Nike has struggled for the better part of 30 years. Did you ever notice that the tags on a Nike product hanging on the rack are identical? Seriously. Whether it is a thermal jacket, or bathing suit for a 6-year old.
We might admit that Nike has the better product, but this is where it could learn a thing or two from Adidas.
Connect to Hedgeye.
There is little doubt that GLPI’s split from PENN created tremendous shareholder value. So, why can’t other gaming companies like BYD, ISLE, LVS, MGM, PNK, or WYNN pursue similar value-creating transactions?
There is growing speculation that BYD could be next to follow the PENN route, now that an activist and real estate focused investor has taken a big stake in the stock.
We’re delighted to tackle this issue head on next Tuesday, March 18 at 11am, with Ed Glazer, Partner at Goodwin Procter, who has extensive experience with REITs and currently represents the only casino REIT – Gaming and Leisure Properties (GLPI).
We will tackle pertinent issues on our call including:
- The case for casino REITs
- Taxable vs non-taxable spin
- REIT spin mechanics
- The potential impact of proposed legislation
- BYD: A case study
- Discussion of Issues
- Discussion of Potential Complexities
- Post Transaction Valuations
Ed Glazer is a partner in the firm's Tax Practice and its nationally recognized Real Estate, REITs & Real Estate Capital Markets Group. He focuses principally on structuring and implementing tax-oriented commercial transactions of all types, including real estate and venture capital transactions, mergers and acquisitions, pension investments in real estate involving issues of unrelated business taxable income, leveraged financings, and workout and debt restructurings. Mr. Glazer regularly advises clients in structuring collective investment vehicles, in structuring real estate securitizations, in forming and operating public and private REITs and in forming real estate funds.
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