Adidas Q3 2025 Results: Mixed Signals from North America
Hagen, October 29, 2025 – Adidas AG has reported its third-quarter 2025 results, showing strong overall performance but regional challenges.
Key Highlights:
Revenue: Adidas posted approximately €6.63 billion for Q3 2025.
Operating Profit (EBIT): Increased by around 23%, with a notable improvement in operating margin.
Outlook: The company raised its 2025 full-year guidance, expecting an operating profit of about €2 billion.
Regional Challenge: North American sales declined due to the end of the Yeezy line and ongoing US import tariffs.
Tariff Impact: Adidas expects around €120 million in additional costs from US tariffs in 2025.
Stock Movement: Despite strong financials, Adidas shares fell roughly 4% today.
Analysis:
The market reaction suggests a “good news, already priced in” scenario. While the financials are strong, risks in key markets and tariff-related costs have created investor caution. The decline in stock price indicates that expectations may have been higher or that uncertainty is influencing trading.
