Adidas saw its shares drop 7.5% in early Wednesday trading after second-quarter sales came in below expectations and the company warned of an added €200 million ($231 million) cost burden from new U.S. tariffs in the second half of 2024.
Despite reporting better-than-expected quarterly profits, CEO Bjorn Gulden cited uncertainty from U.S. trade policies under President Trump.
"We still do not know what the final tariffs in the U.S. will be," CEO Bjorn Gulden said in a statement. Another unknown is the indirect impact on consumer demand if the tariffs cause 'major inflation', he added.
Sales rose 2.2% to €5.95 billion ($6.9 billion), falling short of the €6.2 billion forecast by analysts.
The sales slowdown comes after a period of strong growth driven by popular products like the Samba and Gazelle sneakers, raising concerns that Adidas may be losing steam.
"For investors to view this as a temporary setback, the company will need to deliver a reassuring message regarding the outlook for H2 and the early 2026 order book," UBS analyst Robert Krankowski said in a note to clients.
U.S. tariffs targeting Vietnamese and Indonesian goods—Adidas' top sourcing countries are set to impact the brand heavily, with inventories rising 16% to €5.26 billion as Adidas frontloaded orders to avoid tariff hikes.
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FIFA releases the 2026 World Cup schedule with match dates, venues, and key fixtures. See when host nations USA, Mexico, and Canada play and get an overview of group stage and knockout rounds.
‘We will continue to do everything we can to ensure that the peace plan for Gaza is put into action as soon as possible and that this humanitarian tragedy comes to an end,’ Turkish top diplomat Fidan tells Anadolu
A giant Christmas tree adorned with red and gold baubles stands in the West Bank city of Bethlehem for the first time since 2022.
The 2026 FIFA World Cup draw at the Kennedy Center in Washington, D.C., has finalized the group stage for the tournament co-hosted by the U.S., Canada, and Mexico, setting the schedule and matchups for next summer’s expanded 48-team event.
FIFA releases the 2026 World Cup schedule with match dates, venues, and key fixtures. See when host nations USA, Mexico, and Canada play and get an overview of group stage and knockout rounds.
Pakistan and Afghanistan exchanged heavy fire along their shared border late on Friday, a reminder of how sensitive the frontier remains despite ongoing diplomatic efforts.
Iran’s Foreign Ministry has strongly condemned the Gulf Cooperation Council (GCC) for its support of the claims by United Arab Emirates on three Iranian islands.
Chinese leader Xi Jinping accompanied French President Emmanuel Macron to Chengdu on Friday, a rare gesture seemingly reserved for the head of Europe's second-largest economy that highlights Beijing's focus on Paris in its ties with the European Union.
U.S. industrial production rose by 0.1% in September, rebounding after a decline in August, while capacity utilisation remained unchanged, according to Federal Reserve data on Wednesday.
Google’s YouTube has announced a “disappointing update” for millions of Australian users and creators, confirming it will comply with the country’s world-first ban on social media access for under-16s by locking affected users out of their accounts within days.
President of Turkmenistan Serdar Berdimuhamedow has signed the “On Virtual Assets” law, which will officially legalise cryptocurrency mining and exchange activities in the country from 1 January 2026.
European Union ministers will urge senior U.S. trade officials to implement more elements of the July EU–U.S. trade deal on Monday, including cutting tariffs on EU steel and lifting duties on goods such as wine and spirits.
Google has announced a major update for its Pixel 10 series: owners can now send and receive files with Apple devices using AirDrop, without any collaboration from Apple. The new functionality applies to iPhones, iPads, and macOS devices, though for now it is limited to the Pixel 10 line.
You can download the AnewZ application from Play Store and the App Store.
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