Adidas shares tumbled more than 7% after the German sportswear giant issued a 2026 profit forecast that missed market expectations. The company forecast operating profit of approximately 2.3 billion euros ($2.44 billion) this year, implying a margin below 9% — short of analysts’ 10% target — with double-digit margins pushed to 2028. CFO Harm Ohlmeyer cited U.S. tariffs and a weak dollar as set to reduce 2026 earnings by 400 million euros ($424 million). CEO Bjørn Gulden’s contract was extended through 2030, while the company proposed Nassef Sawiris as new chairman. Adidas reported 2025 sales of 24.8 billion euros ($26.3 billion), with 10% currency-adjusted growth.

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