adidas stock weighs record Q3 against lifestyle footwear risks

Published on 11/12/2026 at 17:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

adidas stock moved lower through Thursday as investors weighed record quarterly results against lifestyle footwear risks. Management raised its 2026 profit outlook.

Record quarter meets execution risks

Third-quarter revenue reached a record level, while operating profit rose sharply year over year.
Direct-to-consumer demand remained strong, but lifestyle footwear faced elevated inventory and discounting.
adidas raised its 2026 operating-profit outlook and plans further fourth-quarter investment.

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adidas stock traded at 177.28 euros on Lang & Schwarz at 17:38 CET on Thursday, November 12, 2026. That was 1.62 percent below the 180.20-euro level cited in the earlier report at 10:43 CET.

The move came as investors continued to assess adidas AG's record third-quarter performance and its higher 2026 profit outlook. The company also highlighted pressure in lifestyle footwear, where excess inventory and discounting remain key operating issues.

Record sales, profit and demand

In its October 29 press release, adidas said third-quarter revenue increased 9 percent year over year to 7,252 million euros. Currency-neutral revenue rose 7 percent, while operating profit climbed 37 percent to a quarterly record of 1,008 million euros.

Direct-to-consumer sales grew 17 percent on a currency-neutral basis. E-commerce revenue advanced 18 percent and own-retail sales increased 16 percent. Apparel revenue rose 19 percent, while performance revenue gained 14 percent, led by running, training and football.

Footwear revenue was flat overall. adidas maintained a conservative wholesale approach to protect full-price sales in a promotional market, while direct-to-consumer footwear revenue still grew 6 percent. Management said lifestyle footwear remained challenged by excess inventory and discounting.

Higher target includes one-time support

adidas now expects currency-neutral revenue growth of 9 percent to 10 percent in 2026 and operating profit of around 2.5 billion euros, compared with around 2.3 billion euros previously. The third-quarter gross margin reached 54.3 percent, helped by healthy full-price sales, channel mix and a refund of around 200 million euros related to US tariff claims.

The tariff refund is a material one-time contribution to the quarter. adidas plans to reinvest around 100 million euros in the fourth quarter in initiatives intended to improve operating leverage over the medium term.

For investors, the next focus is whether strong direct-to-consumer and performance demand can offset the weaker lifestyle footwear backdrop. Europe also requires attention after the company reported lower quarterly revenue there amid conservative wholesale shipments and promotional activity.

Germany's DAX provides the broader market setting for adidas and other German large-cap shares.