The report says revenue grew 14% on a currency-neutral basis between April and June, reaching €6.74 billion and beating the €6.63 billion analysts had expected. Adidas is now forecasting annual revenue growth of 9% to 10%, up from a previous outlook of high single digits.
But profit growth lagged behind sales. Operating profit rose 5% to €574 million, below the €623 million consensus cited in the report. Marketing spending climbed 30%, with World Cup activity identified as a major factor.
That contrast is central to the story: football campaigns may help Adidas capture attention and sales, but they also come with a substantial bill. The company reportedly maintained its full-year operating-profit expectation at about €2.3 billion, leaving execution and cost control in focus.
The report points to two complementary sources of demand: campaigns tied to the World Cup and renewed interest in retro designs. Football gives Adidas a global stage for its brand, while classic products can connect current buyers with the sport’s cultural history.
The challenge is converting that visibility into durable demand beyond the tournament cycle. If retro styles continue to sell and football campaigns bring customers back, Adidas may have room to sustain growth; if not, elevated marketing costs could weigh more heavily.
Adidas has also reportedly selected Birgit Kretschmer to succeed Harm Ohlmeyer as chief financial officer at the end of the year. The change comes as the company balances an upgraded sales outlook with pressure on operating profit.
The next storyline is whether upcoming results show that World Cup exposure and retro demand can support both revenue and profitability-and how the finance transition shapes Adidas’s approach into the next business year.