Adidas Trims Tariff Bill to 120 Million Euros as Product Engine Revs Toward October 29
Published on 10/20/2026 at 16:10 | Editorial boerse-global.de
Adidas has cut its expected hit from US tariffs to 120 million euros on this year's operating profit, down from the 200 million euros management had originally pencilled in. Chief executive Bjørn Gulden said American retailers are ordering more defensively amid tariff uncertainty and leaning harder on discounts — a concession on terms that the company's broad spread across world regions is currently absorbing.
That lighter burden lands alongside a record top line. Global demand pushed third-quarter revenue to an all-time high, even as softer US wholesale orders weigh on the North American business. The Herzogenaurach group, a member of Germany's Dax index, is thus holding its worldwide growth trajectory while navigating mixed signals stateside.
RBC Sticks With Outperform
The capital markets are lending support. RBC Capital Markets rated the stock "Outperform" with a 200-euro price target on October 14, with analyst Piral Dadhania lifting his estimates for fiscal 2027 and 2028 on favourable currency effects.
Trading has firmed after a soft start to the week. The shares were changing hands at 158.80 euros on Tuesday, up 1.0% on the day, and have gained 11% over the past 30 days. That leaves the price 6.5% above its 50-day moving average. Media reports had the stock slipping in Xetra trading the previous afternoon without any company-specific trigger.
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Shanghai Showcase Sets Sights on 2027
Product activity is running hot on several fronts. Adidas staged its "FUTURE OF THREE" concept in Shanghai on Monday, an immersive brand experience blending sport, culture and fresh product and design perspectives. Collections for spring and summer 2027 were on display, pointing management's creative focus at the season after next.
Cold-weather gear is getting attention too. On Thursday the company unveiled the Ultimate365+ Course Control Layering golf collection, built for low temperatures, while Adidas and fashion label Arte Antwerp rolled out the third drop of their joint winter line of warming outerwear.
Footwear is moving at a similar clip. Adidas Basketball announced on October 13 the return of the Harden Vol. 1 "Pioneer" with a Hyperboost midsole, and the Gazelle Indoor "Solar Gold" with musician Bad Bunny was introduced at the same time at 140 US dollars. Two new colourways of the VIRGINIA Adistar Jellyfish with Pharrell Williams are set for a worldwide launch on October 24 at 300 US dollars.
Adidas at a turning point? This analysis reveals what investors need to know now.
Three Stripes Go to Court Down Under
Adidas is also defending its design identity in the legal arena. The company and Adidas Australia filed suit in the Federal Court of Australia against local retailer White Fox Boutique, alleging infringement of the protected three-stripe mark through four-stripe clothing. The defendant has rejected the claims.
Attention now shifts to October 29, when the group is scheduled to report nine-month results, per its financial calendar. Investors and industry watchers will be listening closely on the analyst and investor call for how management frames margin development and consumer sentiment heading into the Christmas season — and for how much of the product momentum actually shows up in the 2026 numbers.
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