Adidas raises full-year sales forecast after record Q2

Adidas on Thursday raised its full-year 2026 revenue growth forecast after posting record quarterly net sales of €6.7 billion in the second quarter, fueled by the FIFA World Cup and surging demand for the German sportswear maker's latest collections.

The company now expects currency-neutral revenues to grow between 9% and 10% this year, up from a previous guidance of high-single-digit growth. Adidas maintained its operating profit target of around €2.3 billion for 2026.finance.yahoo+3

World Cup and Product Momentum Drive Results

Currency-neutral revenues rose 14% in the second quarter, with euro-denominated sales climbing 13% to €6.74 billion — the company's highest quarterly net sales on record. The Performance business surged 39%, led by Football and Running, as Adidas leveraged what it called its most comprehensive World Cup product range to date.marketscreener

Direct-to-consumer channel sales grew 25%, with e-commerce up 27% and own retail revenues rising 23%, reflecting strong product sell-through across all markets. Apparel revenues jumped 35% on a currency-neutral basis, driven by double-digit growth in Football, Originals, and Running.marketscreener

Gross margin improved 0.8 percentage points to 52.5%, supported by healthy full-price sales and a favorable channel mix, though higher US tariffs and freight costs partially offset the gains. Operating profit rose 5% to €574 million despite €212 million in additional marketing investments tied to World Cup campaigns.fashionunited+1

New CFO Appointment

Adidas also announced that Birgit Kretschmer will join the executive board effective September 1, 2026, and succeed Harm Ohlmeyer as chief financial officer at year-end following his decision not to extend his mandate. Kretschmer spent 25 years at Adidas in various leadership roles before serving as CFO of fashion retailer C&A for the past six years.fashionunited+1

Outlook Amid Macro Headwinds

The upgraded guidance comes even as the company acknowledged macroeconomic challenges, including an uncertain consumer environment and heightened promotional activity, particularly in Europe. Adidas said potential US tariff refunds of between $250 million and $300 million that may be recoverable in the future are not reflected in the full-year outlook. The company also noted it had completed the first €500 million tranche of its share buyback program and launched a second tranche.marketscreener