Adidas Raises Annual Sales Outlook Despite Lower Than Expected Q2 Profit

Adidas has raised its full year 2026 sales forecast after reporting strong second quarter revenue growth, supported by robust demand for retro footwear and the FIFA World Cup. However, the company's quarterly operating profit fell short of market expectations due to higher marketing expenses.

The sportswear giant now expects currency neutral revenue to grow between 9% and 10% this year, compared with its earlier guidance of high single digit growth.

In the second quarter, currency neutral revenue increased 14% to €6.74 billion, exceeding analysts’ expectations of €6.63 billion. Growth was driven by double digit sales increases across most regions, except Europe, where heavy retail discounting continued to affect lifestyle footwear sales.

Operating profit rose 5% to €574 million, below analysts’ consensus estimate of €623 million. Adidas said the lower than expected profit reflected a 30% increase in marketing spending, mainly linked to FIFA World Cup campaigns.

Chief Executive Officer Bjørn Gulden said the company increased product availability during the tournament to better serve consumers and retail partners. Adidas sponsored 14 national teams, including finalists Argentina and Spain, helping boost brand visibility during the competition.

Despite the profit miss, Adidas maintained its full year operating profit forecast of around €2.3 billion, reflecting confidence in its overall business performance.

Following the results, Adidas shares fell sharply as investors reacted to the weaker than expected profit, despite the company's improved revenue outlook.