Quarter
Adidas fears effects of US tariffs
Adidas has shoes and textiles produced especially in Asia. The effects of the US tariffs are not yet foreseeable. CEO Gulden fears consequences.
Despite a “great” first quarter, the Franconian sporting goods company Adidas fears the effects of US tariffs, especially for its business in the USA. “In a” normal world “we would have raised our outlook for the total year with this strong quarter, the solid order stock and the overall very positive mood of Adidas for the overall year.
Production in Southeast Asia
Adidas has reduced exports from China to the USA to a minimum. “Since we can currently produce almost none of our products in the USA, these higher tariffs will ultimately lead to higher costs for all of our products for the US market,” he emphasized. Adidas produces especially in countries such as Vietnam or Bangladesh.
“In view of the uncertainty in terms of negotiations between the United States and the various export countries, we do not know what the final tariffs will look like,” said Gulden. Therefore, Adidas could not make final decisions. It is currently impossible to estimate the necessary price increases, let alone their effects on consumer behavior.
In the first quarter of 2025, Adidas grew, especially because of successful shoe sales. Sales had increased by 13 percent compared to the previous year to 6.153 billion euros. The bottom line was that Adidas earned 436 million euros in the first quarter and thus more than twice as much as in the previous year.
dpa
Source: Stern
