Adidas reports preliminary Q4 results

• Adidas Q4 sales rose 10% at constant currency, or 11% excluding Yeezy, alongside a 90-basis-point gross margin beat
• EBIT margin came in in line at 2.7%, pointing to improving profitability momentum
• Adidas announced up to €1 billion in share buybacks for 2026, with full guidance due on March 4

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