German sportswear giant Adidas on Wednesday reported a rise in quarterly profits, driven by stronger sales across key markets, while warning of a “very volatile” and highly competitive global retail environment.
The company, known for its Gazelle and Samba trainers, said net profit attributable to shareholders reached 482 million euros ($564 million) between January and March, marking a 13 percent increase compared with the same period a year earlier, News.Az reports, citing AFP.
Investors reacted positively to the earnings, with Adidas shares rising by nearly seven percent in Frankfurt trading.
Sales increased by 14 percent at constant exchange rates to 6.6 billion euros, supported by particularly strong growth in North America and China.
However, Adidas—facing strong competition from US rival Nike and a growing number of newer brands—warned that market conditions remain challenging.
“The general retail environment is currently very volatile and heavily discounted in many markets, especially in lifestyle footwear,” CEO Bjorn Gulden said in a statement.
“We do, of course, hope the environment stabilises and that discounts will normalise, but this is unfortunately not in our control.”
Despite the cautious outlook, Adidas confirmed its full-year forecast, projecting an operating profit of 2.3 billion euros, even after an expected 400-million-euro hit from higher US tariffs and the impact of a stronger euro.
The company has been recovering from a difficult period following the end of its partnership with US rapper Kanye West in 2022.
Since then, Gulden has worked to stabilise the business, with a particular focus on strengthening demand for Adidas’ classic sneaker lines.
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