Overview
- Adidas, which reported results Wednesday, posted €6.6 billion in sales and €705 million in operating profit, beating forecasts and lifting the stock about 7%.
- The company reaffirmed high‑single‑digit currency‑neutral sales growth and about €2.3 billion in 2026 operating profit as FX and higher U.S. tariffs are set to cut roughly €400 million, after currency moves already reduced reported Q1 revenue by about €350 million.
- Growth leaned on apparel up 31% and performance sports up 29% with early World Cup shipments and a post‑London Marathon bump in running.
- CEO Bjorn Gulden said conditions are very volatile and heavily discounted, so Adidas is limiting sell‑in to retailers to avoid markdowns as Nike pursues aggressive promotions.
- Adidas also announced a share repurchase plan of up to €1 billion for 2026, according to outlets covering the results.