Adidas reports record quarter: Europe sales fall 4 percent as Adidas stock gains 4.16 percent

Published on 10/29/2026 at 14:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adidas lifted 2026 operating profit outlook to EUR 2.50 billion on October 29, 2026. Q3 margin rose to 13.90 percent after results.

Adidas's regional split

Direct-to-consumer sales increased 17 percent in the third quarter of 2026.
First-nine-month revenue reached EUR 20.6 billion after 11 percent currency-neutral growth.
The company canceled 6 million repurchased shares during the first nine months of 2026.

Adidas, DE000A1EWWW0, Illustration mit AI erstellt.

Adidas (ISIN DE000A1EWWW0) posted a record third quarter, while Europe revenue declined 4 percent as wholesale shipments shifted into the fourth quarter. The adidas Group release dated October 29, 2026 says the timing shift and higher wholesale sell-in are expected to produce high-single-digit growth in Europe during the fourth quarter.

Europe exposes the split

The regional picture is unusually uneven. Currency-neutral sales grew 13 percent in Greater China, 12 percent in North America, 16 percent in Latin America and 19 percent in Japan and South Korea during the third quarter, while Europe contracted.

Adidas said its direct-to-consumer business in Europe continued to grow at a high-single-digit rate. The weaker regional result instead reflected conservative wholesale sell-in, elevated marketplace inventories, promotional activity in lifestyle footwear and a temporary SAP ERP migration effect on deliveries.

Demand remains strongest in direct sales

Direct-to-consumer sales worldwide increased 17 percent in the third quarter, including 18 percent growth in e-commerce and 16 percent growth in company-owned retail. Apparel revenue rose 19 percent on a currency-neutral basis, while footwear revenue was flat as the company protected full-price franchises.

For the first nine months of 2026, currency-neutral revenue grew 11 percent to EUR 20.6 billion. Performance revenue increased 27 percent, led by football and running, whereas lifestyle revenue rose 4 percent. The company also canceled 6 million repurchased shares after executing a EUR 1.00 billion buyback.

Profit rises, but one-off help matters

Third-quarter revenue increased 9 percent to EUR 7,252.00 million, and operating profit climbed 37 percent to EUR 1,008.00 million. Gross margin improved 2.50 percentage points to 54.30 percent, helped by a tariff refund of EUR 200.00 million as well as full-price sales and channel mix.

Adidas now expects currency-neutral revenue growth of 9 percent to 10 percent in fiscal year 2026 and operating profit of EUR 2.50 billion, compared with EUR 2.30 billion previously. The company also plans EUR 100.00 million of fourth-quarter reinvestment, which limits how much of the outlook increase represents underlying operating leverage.

Stock moves after the results

Adidas was trading at EUR 164.63 at Lang & Schwarz on October 29, 2026 at 2:00 p.m. CEST, up 4.16 percent versus the Xetra close of October 28, 2026 at EUR 158.05. The finance quote for ADS.DE showed a market capitalization of EUR 28.2 billion and a 52-week range of EUR 129.95 to EUR 188.80 as of October 29, 2026.

The further course of trading is shown by the continuously updated real-time quote of Adidas stock.