Frankfurt, Jan 30, 2026, 13:12 CET — Regular session
- Adidas shares jumped following the announcement of a €1 billion buyback and record sales projections for 2025.
- Preliminary data revealed a boost in margins alongside a sharp rise in yearly operating profit.
- Investors are eyeing March 4 for both audited results and guidance for 2026.
Adidas shares surged on Friday following the German sportswear giant’s forecast of record sales in 2025 and the announcement of a fresh share buyback program. The news boosted confidence in a stock that has been trailing its competitors in a competitive sector. By 0940 GMT, shares were up 4.8% in Frankfurt trading. 1
The buyback matters as a direct wager on cash flow, especially while investors puzzle over how much pricing power major brands retain. Adidas is also aiming to prove it can control discounts despite currency fluctuations and tariff pressures.
Adidas reported record full-year revenue of 24.811 billion euros and operating profit climbing to 2.056 billion euros, based on preliminary, unaudited figures, the company said late Thursday. Its gross margin — the portion of sales remaining after production costs — increased to 51.6% for 2025. 2
Adidas reported fourth-quarter revenue of 6.076 billion euros, with operating profit surging past 164 million euros — more than twice last year’s figure. The company highlighted a 13% “currency-neutral” growth forecast for the adidas brand in 2025, expecting double-digit increases across both markets and channels. 2
Chief executive Bjørn Gulden highlighted that the group maintained “full-price sell-throughs high and discounts under control,” describing the rise as “quality growth.” He announced plans to repurchase up to 1 billion euros of shares in 2026, kicking off in early February, with intentions to cancel the bought-back stock. 2
Adidas reported preliminary sales just under the 24.95 billion euros analysts expected, based on a Reuters tally. Operating profit jumped 54% to roughly 2.06 billion euros. The stock climbed 2.4% late Thursday following the news but remains down about 15% year-to-date. 3
Some analysts zoomed in on the staying power of adidas’s top-line surge, sidelining the buyback news. Kepler Cheuvreux’s Jurgen Kolb highlighted that the currency-adjusted double-digit brand growth has now stretched over seven straight quarters. Still, he cautioned that momentum behind the “Terrace” franchise might be waning, per Investing.com. 4
The numbers arrive as major brands compete fiercely for shelf space and consumer dollars, while investors look for hints that promotions might be making a comeback. Adidas has warned that tariff and foreign-exchange pressures could tighten margins, even if sales volumes stay steady.
The danger lies in a harsher retail environment pushing discounting further, or in currency and tariff headwinds eroding the margin improvements shown in the initial numbers. One slip in guidance could flip the story from “buyback confidence” to “peak momentum” in no time.
Traders are zeroing in on two key moments: the buyback kickoff in early February and the full-year results with the 2026 outlook set for March 4. 5
