Adidas has revised its full-year profit outlook downward by approximately €400 million due to rising U.S. tariffs and negative foreign exchange movements, primarily driven by a stronger U.S. dollar against the euro. The impact reflects heightened input costs from tariff increases on imported goods and reduced earnings conversion from dollar-denominated revenues, affecting operating margins. This repricing of currency and trade risk pressures discretionary consumer spending in key Western markets, making Adidas particularly vulnerable among global sportswear firms with significant North American exposure. Traders will focus on the company’s upcoming Q2 earnings release, which will provide updated guidance on margin resilience and regional sales mix under current trade conditions.
Adidas said higher U.S. tariffs and adverse currency developments are expected to impact full-year operating profit by approximately €400 million
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