Adidas warns of higher costs from US tariffs, confirms outlook
German sportswear maker Adidas confirmed its 2025 guidance on Tuesday, but said it expected the planned higher tariffs on imports into the United States to eventually raise the costs of all its products for the market.
'Although we had already reduced the China exports to the U.S. to a minimum, we are somewhat exposed to those currently very high tariffs,' CEO Bjorn Gulden said in a statement, highlighting the potential impact on the company from the general increase in tariffs from all other countries of origin.
Unexpectedly high U.S. import levies on Southeast Asian countries such as Vietnam and Indonesia, now paused until July, have blindsided sportswear makers, which had relied on supplies from those countries to mitigate the impact of U.S. tariffs on goods from China.
Adidas, which announced stronger-than-expected quarterly sales and profit in an unscheduled statement last week, said cost increases would eventually cause price hikes, but added that it was currently impossible to quantify those or to assess their impact on consumer demand for its products.
Gulden said Adidas would have increased its outlook for the full year both for revenue and operating profit after a solid quarter and a strong order book, if it had not been for the uncertainty around the tariffs.
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