Adidas shares fell more than 7% on Wednesday after the German sportswear company issued 2026 operating profit guidance that fell short of analyst expectations. The stock hit a fresh 52-week low, extending its decline to roughly 19% since the start of the year.
Adidas is targeting operating profit of approximately $2.68 billion for 2026 — up from $2.40 billion in 2025 — but well below the consensus estimate of around $3.17 billion. The company cited a combined $465 million hit from U.S. tariffs and unfavorable currency movements as key headwinds. CEO Bjørn Gulden, whose contract was extended through 2030, noted the guidance does not account for the latest tariff developments following a recent U.S. Supreme Court ruling. Despite the outlook, Adidas posted strong 2025 full-year results, with net income jumping 75% to $1.56 billion and double-digit growth across both footwear and apparel.
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