Adidas Stock Sinks 5% on Tariff Woes – Samba Sneaker Craze Could Be the Silver Lining
Adidas’ third-quarter update (announced Oct. 29) showed the German sportswear maker is still growing globally despite trade headwinds. Group sales hit €6.63 billion – a new quarterly high – up 3% from a year ago reuters.com. But in North America (its second-biggest market) sales fell 5% on the year, largely because the euro surged against the dollar reuters.com. In fact, Adidas said the strong euro shaved about €300 million off its sales. On a currency-neutral basis, NA revenues were roughly flat (+1%), versus +8% overall reuters.com. Gulden told analysts the US tariffs (on Chinese, Vietnam, etc., imports) will cut around €120 million from 2025