Adidas Records Strong Start to the Year in the First Quarter of 2026

Adidas AG has reported a robust start to the 2026 fiscal year, with currency-neutral revenues climbing 14% to reach EURO6.6 billion (AUD10.7 billion). The growth was characterised by a “rare” double-digit increase in direct-to-consumer (DTC) sales across all global markets.

Despite external headwinds from US tariffs and unfavourable currency fluctuations, operating profit rose 16% to EURO705 million (AUD1.1 billion), underpinned by a healthy gross margin of 51.1%.

Strategic Outlook and External Headwinds

Commenting on the first quarter results, Adidas CEO, Bjørn Gulden, said: “I am very proud of the results our teams delivered in the first quarter.”

“Sales growth of 14% to € 6.6 billion and almost € 100 million more operating profit to € 705 million is very strong in the current environment,” he said.

Adidas expects currency-neutral sales to increase at a high-single-digit rate for the full year 2026, with operating profit projected to reach approximately €2.3 billion. The brand is heavily geared toward the upcoming FIFA World Cup, with marketing investments shifting toward major tournament activations.

Key Financial Performance (Q1 2026)

Product Highlights and Innovation

The quarter was defined by massive momentum in Performance apparel (+31%) and specialised footwear.

• Running Excellence: The Adizero Adios Pro Evo 3 (weighing just 97g) dominated the London Marathon, with world records set by Tigist Assefa and sub-2-hour marks by Sabastian Sawe and Yomif Kejelcha.
• Football Momentum: Growth was fueled by the launch of away kits for the FIFA World Cup 2026 and strong demand for the Trionda official match ball.
• Adaptive Sports: The brand introduced the Supernova Rise 3 Adaptive, its first high-performance running shoe designed specifically for athletes with disabilities.
• Lifestyle Trends: In the “Terrace” category, the Samba Jane, a blend of the iconic Samba and a Mary Jane aesthetic, drove significant interest alongside 3D-printed modern silhouettes like the Climacool.

Regional Market Growth

Every major region posted double-digit growth in DTC, even as the company maintained a conservative wholesale approach in volatile markets.

• Latin America: +26%
• Japan/South Korea: +23%
• Greater China: +17%
• North America: +12%
• Europe: +6% (Reflecting conservative wholesale sell-in)

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