Adidas raises full-year profit forecast despite impact of Trump tariffs

German sportswear maker Adidas on Tuesday raised its operating profit outlook for 2025, saying it has successfully offset part of the additional costs stemming from higher U.S. import tariffs imposed by Donald Trump’s administration.

In the third quarter, revenue rose 3% to €6.63 billion, slightly below analysts’ consensus estimate of €6.71 billion. On a currency-neutral basis, sales were up 8%, and 12% excluding last year’s Yeezy sales. Operating profit climbed to €736 million from €598 million a year earlier, though results were weighed down by a stronger euro against other currencies.

Adidas now expects full-year operating profit of around €2.0 billion ($2.3 billion), compared with its previous forecast range of €1.7–1.8 billion, reflecting a better-than-expected business performance.

Earlier, the company had warned that it might raise prices in the U.S. to offset some of the added costs linked to the new tariffs, which Adidas estimates will increase expenses by about €200 million ($233 million) in the second half of the year. For instance, its popular Samba sneakers, previously priced from $90, now start at $100 on the brand’s U.S. website.