BRUSSELS (dpa-AFX) - Adidas AG (ADS.DE, ADS.MI, ADDYY), a German athletic apparel, footwear, and related products company, on Thursday reported a decline in net profit for the second quarter of fiscal 2026, hurt by loss from discontinued operations. However, the company recorded a rise in net sales, helped by improved demand.
For the three-month period, the company reported a net income of EUR 355 million, or EUR 2.02 per share, less than EUR 369 million, or EUR 2.07 per share, in the same period last year. Loss from discontinued operations was EUR 14 million, compared with a gain of EUR 6 million a year ago.
Net profit from continuing operations was EUR 398 million, or EUR 2.10 per share, higher than EUR 375 million, or EUR 2.03 per share, in the prior year. Operating income stood at EUR 574 million as against EUR 546 million in the previous year.
The company posted net sales of EUR 6.743 billion, up from EUR 5.952 billion last year. The Apparel business of Adidas registered net sales of EUR 2.721 billion, higher than EUR 2.029 billion a year ago.
In addition, Adidas has appointed Birgit Kretschmer to its executive board with effect from September 1. She will succeed Harm Ohlmeyer as the company's chief financial officer at the end of the year. This follows Ohlmeyer's decision not to extend his executive board mandate beyond his current term.
With this appointment, Kretschmer returns to Adidas, where she had spent her 25 years in different leadership roles across the organization. For the past six years, she worked as the CFO of C&A, a fashion retailer.
Looking ahead, for fiscal 2026, the company has reaffirmed its operating profit guidance of EUR 2.3 billion. For fiscal 2026, citing its better-than-expected current earnings performance, Adidas now anticipates revenue growth of 9% to 10% against its earlier expectation for revenue growth in a high-single-digit rate.
For fiscal 2025, Adidas had posted an operating profit of EUR 2.056 billion, with net sales of EUR 24.811 billion.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
