Adidas reports Q1 operating profit above expectations
The figure rises by 16% to 705 million euros, above the 647 million euros projected by analysts in a poll
Add BT as a preferred source
[BERLIN] Germany’s Adidas on Wednesday (Apr 29) reported better-than-expected operating profit in the first quarter.
It was helped by strong demand despite what CEO Bjorn Gulden described as a “very volatile and heavily discounted” retail environment, especially for sneakers.
Group net sales rose 14 per cent currency-neutral to 6.6 billion euros (S$9.9 billion) in the quarter, even with several countries in the Middle East posting sales declines due to the conflict in the region, the company said.
Adidas added that it was exercising discipline to not sell too many products to retailers and thus avoid sneakers having to be discounted.
US rival Nike said earlier in April that it was being “aggressive” with markdowns, as it tried to clear unsold stock.
Adidas’ operating profit in the first three months of 2026 rose by 16 per cent to 705 million euros, above the 647 million euros projected by analysts in a company-compiled poll. It is also up from 610 million euros in the year-ago period.
Sales were helped by increased demand in football gear due to the Fifa World Cup 2026 starting in June, Adidas said. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Qatari LNG ship struck in Strait of Hormuz, testing US talks
DBS, OCBC and UOB shares hit all-time highs as sentiment improves
‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis
Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10
