Adidas, Europe’s largest sportswear manufacturer, announced on July 30 that second-quarter sales fell short of expectations. The company said its business had been impacted by U.S. tariffs and may raise prices in the market.
Adidas reported net sales of 5.95 billion euros ($6.49 billion) for the second quarter, a year-over-year increase of 2.2 percent, but well below the consensus estimate of 6.15 billion euros ($7.2 billion).
Adidas CEO Bjørn Gulden said the company was negatively impacted by U.S. tariffs in the quarter and expects further effects in the second half of the year.
“We have already had a negative impact in the double-digit euro millions in the second quarter, and the latest indications of tariffs will directly increase the cost of our products for the U.S. with up to €200 million during the rest of the year,” Gulde said in the company statement….