Adidas’ Samba and Puma’s Speedcat Are Slowing Down
The German sportswear makers face a resurgent Nike, as well as the financial damage of US tariffs.
Not coming first.
Photographer: Moritz Scholz/Getty Images (L); Jeremy Moeller/Getty Images (R)
Do US tariffs spell the end of the Adidas Samba’s winning streak?
Adidas AG, which has transformed the humble three-striped sneaker into a global phenomenon, on Wednesday reported weaker-than-expected sales growth in the three months to June 30, triggering a 10% decline in its shares. That echoes the bleak performance at fellow German sportswear maker Puma SE, which dropped as much as 21% last week after warning of lackluster demand, as well as the financial cost of US levies that it estimates will wipe about €80 million ($92 million) off gross profit this year.