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Adidas reported a 5 per cent decline in North American sales during the third quarter, primarily attributed to the discontinuation of its Yeezy sneaker line and the impact of US tariffs. Despite this regional downturn, the sportswear giant achieved a 3 per cent increase in global revenues, reaching a record €6.63 billion, with sales excluding Yeezy rising 12 per cent currency-neutral worldwide. The company ended its highly profitable partnership with Ye (formerly Kanye West) following his antisemitic remarks, a decision that contributed to an annual loss in 2023. Adidas's recovery has been significantly driven by popular 'terrace' sneakers such as the Samba and Gazelle, alongside a 30 per cent growth in its running segment during the quarter. The company has hiked its annual profit outlook, successfully offsetting some of the extra costs caused by higher US tariffs, despite a volatile global environment and a stronger euro impacting sales.
