bluejayphoto/iStock via Getty Images The European soccer championships will begin on June 14 in Germany to kick off what will be a huge summer for major sports events in Europe, with the Paris Olympics set to start on July 26. The timing of the Euros and the Olympics is crucial for the sports apparel sector, which has been struggling in 2024 with the notable exception of Adidas ( OTCQX:ADDYY ). "The industry is heavily dependent on the economy and consumption," warned Baader Bank trader Marc Richter.
Fortunately, the Euros and the Olympics have provided economic and quarterly earnings boosts in the past. A strong showing by France in major tournaments in the past has boosted Nike's ( NYSE: NKE ) quarterly sales in Europe. For the 2024 Euros, Nike ( NKE ) is sponsoring France, Croatia, Slovenia, England, Turkey, Portugal, Slovakia, Poland, and the Netherlands.
Adidas ( OTCQX:ADDYY ) is sponsoring host nation Germany, Scotland, Hungary, Spain, Italy, and Belgium. Meanwhile, Puma ( OTCPK:PMMAF ) is sponsoring Switzerland, Serbia, Czech Republic, and Austria. If there is to be a breakout sponsor star at the Euros, watch for Italian sportswear brand Macron, Spanish sports brand Joma Sport S.
A., and German-Danish company Hummel International. Macron is sponsoring Albania and Georgia, while Joma is sponsoring both Romania and Ukraine, and Denmark's team will wear kits from Hummel.
U.S. companies Lululemon ( LULU ) and Under Armour ( UAA ) will not have a huge presence at the Euros, .
