What is the impact of U.S. tariffs on Adidas?

Adidas reported a double-digit euro millions impact from U.S. tariffs in the second quarter of the current year.

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Adidas Warns of Up to 200 Million Euro Cost Increase in U.S. Market

Q: How much will Adidas' product costs increase in the U.S. market?

Adidas expects a rise of up to 200 million euros in the cost of its products in the United States market during the second half of 2023.

30 Jul

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Summary

Adidas saw double-digit euro millions impact from U.S. tariffs in Q2
Adidas expects up to 200 million euro increase in product costs in U.S. in H2
Adidas unsure of indirect impact on consumer demand due to tariff-driven inflation

Adidas Warns of Up to 200 Million Euro Cost Increase in U.S. Market

In the second quarter of the current year, German sportswear company Adidas experienced a double-digit euro millions impact from U.S. tariffs. The company has also warned that it expects a rise of up to 200 million euros in the cost of its products in the United States market during the second half of 2023.

Adidas CEO Bjorn Gulden expressed uncertainty about the indirect impact these tariffs could have on consumer demand, stating, "We do also not know what the indirect impact on consumer demand will be should all these tariffs cause major inflation."

Despite these challenges, Adidas confirmed its guidance for the year. The company's net sales, adjusted for currency swings, rose 2.2% to 5.95 billion euros in the second quarter, roughly in line with analysts' average estimate. However, the figure includes a negative impact from currency effects of around 300 million euros.

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