Adidas stock rises as record quarter lifts 2026 profit outlook
Published on 11/05/2026 at 10:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSQuarterly momentum supports guidance
- Direct-to-consumer sales grew strongly across regions, led by e-commerce and company-owned stores.
- Europe remained the main weak spot, although adidas expects high-single-digit regional growth in the fourth quarter.
- A tariff refund supported gross margin, while management plans further investment in the final quarter.
adidas reported record third-quarter results on October 29, 2026, and raised its full-year operating-profit outlook. In its official results release, the sportswear group said revenue reached a quarterly record while profitability benefited from strong full-price sales, product momentum and a tariff refund.
Record quarter lifts expectations
Revenue rose 9 percent year over year to 7.252 billion euros. Currency-neutral growth was 7 percent, while operating profit increased 37 percent to 1.008 billion euros. The operating margin reached 13.9 percent, up from 11.1 percent a year earlier, and net income from continuing operations rose 48 percent to 711 million euros.
Direct-to-consumer sales were a central growth engine. Currency-neutral DTC revenue increased 17 percent, with e-commerce up 18 percent and company-owned retail sales up 16 percent. Apparel revenue grew 19 percent in currency-neutral terms, while performance revenue advanced 14 percent. Footwear revenue was flat as adidas kept wholesale shipments conservative in a promotional market.
The gross margin improved 2.5 percentage points to 54.3 percent. The company said a refund of around 200 million euros related to US tariff claims contributed to the improvement, alongside healthy full-price sales and a favorable channel mix. Unfavorable currency effects and higher US tariffs continued to weigh on the margin.
Europe remains the key swing factor
Growth was broad across most regions. Currency-neutral revenue increased 13 percent in Greater China, 12 percent in North America, 16 percent in Latin America and 19 percent in Japan and South Korea. Europe was the exception, with revenue down 4 percent as wholesale partners faced elevated inventories and promotional pressure in lifestyle footwear.
adidas said delayed deliveries linked to an SAP migration in parts of Europe would shift into the fourth quarter. Together with higher wholesale sell-in, this is expected to support high-single-digit European growth in the final quarter. The regional recovery is important because Europe remains the group’s largest market.
For 2026, adidas now expects currency-neutral revenue growth of 9 to 10 percent and operating profit of around 2.5 billion euros, compared with the previous target of around 2.3 billion euros. The bridge includes stronger underlying profitability and the tariff refund, partly offset by around 100 million euros of planned fourth-quarter reinvestment in initiatives intended to improve future operating leverage.
adidas stock traded at 181.48 euros on Lang & Schwarz at 10:12 CET on Thursday, November 5, 2026, 2.91 percent above the Xetra close of Wednesday, November 4, at 176.35 euros. Investors can follow the real-time quote of adidas stock as the market weighs the stronger guidance against regional and margin risks.
adidas AG
- Company: adidas AG
- ISIN: DE000A1EWWW0
- Trading venue: Lang & Schwarz
- Quote: 181.48 euros at 10:12 CET on November 5, 2026
- Change: 2.91 percent above the Xetra close of November 4, 2026
- Xetra close: 176.35 euros on November 4, 2026
- Sector: Sportswear and sporting goods
The broader German market backdrop is available in current DAX market coverage.
Further developments can be followed through more news and analyses on adidas stock.
