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3w ago

Adidas Flags €200 Million US Tariff Hit After Strong Q2 Results

Adidas is weighing U.S. price hikes to offset about €200 million in import duties.

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(FILES) The logo of the German sports equipment maker Adidas is pictured prior to the company's annual press conference in Herzogenaurach, southern Germany on March 8, 2023. German sportswear giant Adidas said on July 30, 2025 it took a hit from US tariffs in the second quarter but did not indicate whether it would pass on rising costs to consumers. The world's second-biggest sports outfitter said the levies introduced by US President Donald Trump had "a negative impact in the double-digit euro millions" between April and June, without giving a specific figure. US tariffs would also add around 200 million euros ($230 million) to Adidas's costs in the second half of the year, it said (Photo by Christof STACHE / AFP) (Photo by CHRISTOF STACHE/AFP via Getty Images)
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Overview

  • Adidas posted a second-quarter operating profit of €546 million on €6 billion in revenue, exceeding analyst forecasts.
  • New U.S. tariffs of 20% on Vietnamese goods and 19% on Indonesian imports are set to add roughly €200 million to second-half costs.
  • The company front-loaded shipments ahead of the duties, driving inventories up 16% to €5.26 billion by the end of June.
  • Management preserved its full-year operating profit guidance at €1.7 billion to €1.8 billion despite escalating import levies.
  • CEO Bjørn Gulden warned that tariff-driven inflation could damp consumer demand and indicated potential price increases in the U.S.