Adidas stock drops 7% on softer 2026 profit outlook as CEO Gulden gets 2030 extension
Adidas AG shares fell as much as 7% on Wednesday after the group forecast 2026 operating profit of around 2.3 billion euros, below market expectations. Adidas blamed U.S. import tariffs and a weaker dollar, and said CEO Bjorn Gulden—brought in in 2023 after the company cut ties with rapper Ye—would stay on through 2030 as billionaire Nassef Sawiris was lined up to take the chair. Investors have been paying up for a cleaner Adidas: fewer discounts, less excess stock, and a steadier brand message. The new guidance suggests the next leg of the turnaround will be harder, with the U.S. tariff bill moving from a talking point to a profit hit.