Adidas Faces Double-Digit Million Euro Tariff Impact
Adidas announced an impact of double-digit million euros from U.S. tariffs in Q2, with potential product cost increases up to 200 million euros in the U.S. for H2. Despite currency adjustments, net sales grew 2.2% to 5.95 billion euros, slightly below analyst expectations.
Adidas, the German sportswear giant, revealed on Wednesday that it experienced a financial impact in the double-digit million euros due to U.S. tariffs during the second quarter.
The company also issued a warning about the possibility of product cost increases of up to 200 million euros in the United States during the second half of the year. CEO Bjorn Gulden expressed concerns about the potential indirect effect on consumer demand if these tariffs lead to major inflation.
Adjusted for currency swings, Adidas' net sales rose by 2.2% to reach 5.95 billion euros in the quarter, a figure slightly shy of analysts' average estimate of 6.2 billion euros as compiled by LSEG. The result reflects a negative currency impact of approximately 300 million euros, according to the company.
(With inputs from agencies.)
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