Sporting goods manufacturer: Adidas: No price increase for tariffs outside the USA

The world’s second largest sporting goods group Adidas does not want to increase its prices outside the United States because of US customs policy. New US import fees should only lead to higher prices in the United States, said Adidas CEO Björn Gulden in Herzogenaurach. Gulden emphasized whether and in what form this will occur from many factors, including the behavior of the competition and the amount of the tariff imposed.

Adidas is particularly affected by the customs policy of US President Donald Trump in its Asian production countries. The export to the United States had been returned from China – in China, almost exclusively produced for the Chinese market. There are influences in countries such as Vietnam, Indonesia, Pakistan, Cambodia and Jordan, from where the US market is supplied.

Customs uncertainty and other factors had previously put the Adidas share under pressure despite the comparison of good half-year numbers. The papers in the DAX gave up up to almost 15 percent after the figures were submitted. Analysts blamed, among other things, the forecast not raised due to customs uncertainty and uncertain end markets.

According to Gulden, the US tariffs had “negative effects in a double-digit millions” in the second quarter alone. In the further course of the year, he expected up to 200 million euros. In addition, consumer demand could decrease if the tariffs should lead to higher inflation.

Adidas had announced significant growth in the first half of the year. The net profit from continued business activities rose by 112 percent to 811 million euros compared to the same period last year. Sales increased by two percent to 5.95 million euros. Adjusted for currency effects and the sale of products from the Yeezy brand of the scandal rapper Kanye West last year, this means growth by 14 percent.

The group had not raised its forecast this year – but also not lowered, as the local rival puma slipped into the loss zone had to do a few days ago. The company is healthy, says Adidas Finance board member Harm Ohlmeyer. The goal, which was actually targeted for 2026, to achieve an operational margin of ten percent, has almost been achieved with 9.6 percent.

CEO Gulden was satisfied with the development. “We have managed to generate branded desire to extend the life cycles of existing product families, to introduce new product families and also to transfer brand moment to the clothing area,” said Gulden. Adidas has been benefiting from the run on its traditional models such as “Samba” or “Gazelle” for some time. In the future, the “superstar” will be even more to be led to sales success. At the same time, the group relies on highly developed running shoes, such as the Adizero series.