Adidas sees $140 million hit on operating profit from US tariffs
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Logo of Adidas brand is displayed on the store in the center of Warsaw, Poland, January 4, 2024. REUTERS/Kacper Pempel
(Reuters) -Adidas expects U.S. import tariffs to have a direct impact of 120 million euros ($140 million) on its operating profit in 2025, with the largest hit coming in the fourth quarter, its CEO said on Wednesday.
"The indirect impact of the tariffs, we don't know. We do not know how the consumer will react in the U.S. when these higher prices come to effect," CEO Bjorn Gulden said during a media call.
Adidas has increased prices in the United States to offset the impact of tariffs.
($1 = 0.8575 euros)
(Reporting by Linda Pasquini in Gdansk and Helen Reid in London, editing by Milla Nissi-Prussak)
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