FRANKFURT: German sportswear maker Adidas said today that it saw an impact in the double-digit euro millions from US tariffs in the second quarter (Q2).
The company also warned of a rise in the cost of its products in the US of up to €200 million in the second half this year.
“We also do not know what the indirect impact on consumer demand will be should all these tariffs cause major inflation,” CEO Bjorn Gulden said in a statement, as the sportswear maker confirmed its guidance for the year.
Net sales, in euro terms, rose 2.2% to €5.95 billion in the quarter, roughly in line with analysts’ average estimate of €6.2 billion, according to data compiled by LSEG.
“The figure includes a negative impact from currency effects of around €300 million,” the company said.