Q1 2026 Adidas AG Earnings Call Transcript
Key Points
- Adidas AG (ADDDF) reported a strong Q1 2026 with a 14% growth in sales, indicating high consumer demand for their products.
- The company achieved a significant operating profit of EUR 705 million, marking an increase of EUR 100 million compared to the previous year.
- Adidas AG (ADDDF) experienced robust growth in its direct-to-consumer channels, with e-commerce sales up by 25% and retail store sales up by 19%.
- The performance category saw a 29% growth, driven by strong demand in running and soccer products.
- Adidas AG (ADDDF) has successfully expanded its presence in key markets, including the US, Europe, and Greater China, contributing to its overall growth.
- The gross margin decreased by 100 basis points to 51.1%, impacted by currency fluctuations and tariffs.
- Adidas AG (ADDDF) faces challenges in the lifestyle footwear segment, with only a 4% growth due to high inventory levels and discounting in the market.
- The company is experiencing business disruptions in emerging markets, particularly in the Middle East, due to ongoing conflicts.
- There is a cautious outlook for the European market, which is currently not growing, and consumer demand is affected by high oil prices.
- Adidas AG (ADDDF) acknowledges the need to improve its presence in the North American running specialty stores, where it has historically underperformed.
Ladies and gentlemen, welcome to the adidas AG Q1 2026 conference call and live webcast. I'm Moira, the Chorus Call operator. (Operator Instructions) The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Sebastian Steffen, Head of Investor Relations. Please go ahead.
Yeah, thanks very much, Moira, hello everyone, welcome to our Q1 results conference call. Along with me here today are our CEO, Bjørn Gulden; and our CFO, Harm Ohlmeyer. You know the drill. First, Bjørn and Harm will take you through the puts and takes of the quarter and our outlook, and then of course, we will open up the floor to your questions. (Event Instructions)
Before we kick it off, there's actually one more thing I would like to mention. I guess we all witnessed a very historic sports moment on Sunday at the London Marathon. I have to say I still get goosebumps when I think about it and when I think about the visit of these fantastic athletes here at our campus
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