Adidas shares tumble 17% as World Cup marketing costs spark earnings miss
Adidas reported second‑quarter operating profit of €574 million, falling short of the €616 million analyst estimate. The shortfall was attributed to a 30 % jump in World Cup‑related marketing spend, which added about €212 million in costs despite a 14 % currency‑neutral sales rise to €6.7 billion. Direct‑to‑consumer revenue grew 25 % (e‑commerce up 27 %), while wholesale revenue increased 6 %.
The company raised its full‑year 2026 currency‑neutral sales growth outlook to 9‑10 % and announced Birgit Kretschmer as its new chief financial officer. Investors reacted sharply, sending the Frankfurt‑listed shares down up to 17 %, the largest single‑day decline in the stock’s history.
Entities: Adidas · Birgit Kretschmer · Bjørn Gulden · Deutsche Bank AG · FIFA World Cup 2022 · adidas AG
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 5 SOURCES] Adidas' second‑quarter operating profit was €574 million, below the analyst estimate of €616 million. (Existing)
- [● 5 SOURCES] Adidas' marketing spending increased by about 30% year‑on‑year in Q2. (Existing)
- [○ 1 SOURCE] Direct‑to‑consumer sales grew 25% in Q2, with e‑commerce up 27%. (Existing)
- [○ 1 SOURCE] Wholesale revenue increased 6% in Q2. (Existing)
- [● 4 SOURCES] Adidas shares fell up to 17% on the Frankfurt Stock Exchange, the largest one‑day decline in company history. (Existing)
- [● 5 SOURCES] Adidas raised its full‑year 2026 currency‑neutral sales growth outlook to 9‑10%, up from a high‑single‑digit forecast. (Existing)
- [○ 1 SOURCE] Birgit Kretschmer was appointed chief financial officer of Adidas. (Existing)
- [● 5 SOURCES] Q2 net sales reached €6.7 billion, a 14% increase on a currency‑neutral basis. (Existing)