Adidas shares fell by 7.2?ter the publication of the financial statements

After the publication of financial results for the second quarter and the first half of the year, Adidas shares declined by 7.2%. The reason for the pessimistic investor sentiment was a warning that the introduction of trade duties in the United States could lead to losses of 200 million euros in the second half of the year.

In the reporting quarter, Adidas recorded a 2.2% increase in net sales, reaching €5.95 billion. However, this figure was lower than analysts' expectations, which had forecast €6.2 billion. The company's operating profit increased by an impressive 58%, reaching €546 million, while net profit increased by 77% to €375 million. The company's management expressed satisfaction with the results achieved, emphasizing significant progress.

Despite the positive dynamics, the situation with US duties remains uncertain. According to Bjorn Gulden, the head of Adidas, the company still does not have accurate information about the amount of duties and their possible impact on consumer demand. 

He noted that there is a possibility of inflationary pressure that may be caused by these measures. Due to this uncertainty, Adidas refrained from raising its annual forecast, although the successful performance for the quarter and the first half of the year fully justifies this.