Customs uncertainty pushes Adidas share price down

Customs uncertainty and uncertain end markets are impacting Adidas' performance and putting pressure on the sportswear manufacturer's share price. Shares fell by more than seven percent in the DAX after the release of the company's quarterly figures.

The group did not raise its forecast for operating profit (EBIT) this year, according to investment bank Jefferies. Now, experts are questioning whether the uncertain situation will also lead to more turbulence for wholesale order books.

The strong euro weighed on sales development, as the Herzogenaurach-based company announced. Revenues increased by around two percent to 5.95 billion euros. Currency-adjusted, Adidas achieved an eight percent increase.

Operating profit improved by 57.7 percent to 546 million euros, exceeding analysts' expectations. Adidas benefited from fewer discounts, as well as lower product and freight costs.

For the remainder of the year, the company continues to see 'potential for improvement'. However, US customs policy poses high risks.