Adidas Shares Drop as Tariff Impact Clouds Growth Trajectory

Adidas AG slumped after the German company reported weaker-than-expected revenue growth, echoing the concerns of cross-town rival Puma SE last week about the impact of US tariffs.

The sports brand’s shares fell as much as 9.2% on Wednesday, the most on an intraday basis since early April when markets were reacting to President Donald Trump’s tariff agenda. The shares are down about 23% in the past 12 months.