Adidas has upgraded its full-year sales forecast after strong demand for its football and running ranges helped the sportswear giant deliver record second-quarter revenues.
It now expects currency-neutral sales to rise between nine per cent and 10 per cent in 2026, up from its previous forecast of high-single-digit growth.
Adidas recorded net sales of €6.7bn during its second quarter, its highest quarterly total to date, as currency-neutral revenue increased 14 per cent.
Direct-to-consumer sales surged 25 per cent, including a 27 per cent rise in ecommerce and 23 per cent growth across its own-store estate. Wholesale revenue increased six per cent, as Adidas maintained a cautious approach to supplying retailers amid heavy discounting in parts of the market.
The retailer’s performance division grew 39 per cent, driven by its football and running categories, while apparel sales jumped 35 per cent. Footwear revenue edged up one per cent as growth in performance trainers was offset by a more promotional lifestyle footwear market.
Adidas said its World Cup collections and marketing campaigns had helped drive demand during the period, alongside continued momentum for its Adizero running range.
European sales increased six per cent, behind double-digit growth across North America, Greater China, Latin America, emerging markets and Japan and South Korea.
The company said it had deliberately limited wholesale supply in Europe to protect full-price sales and avoid adding further promotional pressure.
Second-quarter operating profit rose five per cent to €574m, despite Adidas spending an additional €212m on marketing and World Cup activations. Gross margin improved 0.8 percentage points to 52.5 per cent.
For the first half, net sales reached a record €13.3bn, while operating profit climbed 11% to €1.28bn. The retailer continues to expect full-year operating profit of around €2.3bn.
Chief executive Bjørn Gulden said the quarter demonstrated the strength of the Adidas brand and its product offer, adding that consumer sell-through had outpaced the amount supplied to retailers.
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