Adidas gains US popularity over Nike amid sector volatility

Adidas is experiencing mixed market signals as it gains popularity in the United States while facing broader sector volatility. According to a survey by the Royal Bank of Canada (RBC) regarding back-to-school shopping, Adidas has surpassed Nike in popularity among US consumers for the first time. RBC maintained an ‘Outperform’ rating for the company, noting stable business performance in China alongside the growth in the US market.

Despite these consumer trends, the Adidas share price recently faced a decline of 2.9 percent. This drop was attributed to industry-wide concerns following weak quarterly results and lowered profit forecasts from JD Sports, which cited issues in the US market and pricing pressures.

On the corporate side, CEO Björn Gulden recently purchased over €500,000 in company shares, a move seen as a sign of confidence. The company also continues its share buyback program, having acquired 2.95 million shares as of mid-August.