Global sportswear giant Adidas reported its highest quarterly sales in company history of €6.7 billion in in Q2. FY 26. This marks a 14 per cent Y-o-Y currency-neutral increase.

Strong momentum across licensed replica jerseys and technical sportswear drove a 35 per cent growth in overall apparel sales. Fueled by the 2026 FIFA World Cup, where Adidas outfitted 14 national teams and sold over 17 million jerseys, performance categories expanded by 39 per cent. Direct-to-consumer (DTC) channels outpaced traditional wholesale, jumping 25 per cent globally as retail flagships and digital platforms captured elevated consumer engagement. Supported by this top-line expansion, management raised its full-year 2026 revenue forecast to 9 per cent – 10 per cent currency-neutral growth.

High marketing outlays compress short-term operating margins

Despite top-line strength, heavy marketing expenditures - up 30 per cent Y-o-Y to support tournament activations - weighed on short-term earnings. Second-quarter operating profit grew by 5 per cent to €574 million, while gross margin expanded by 80 basis points to 52.5 per cent. Retailers faced localized freight surcharges and rising operating costs, though strong sell-through rates prevented severe promotional discounting. Addressing the performance, Bjørn Gulden, CEO, Adidas, states, the brand’s products across jerseys, culture wear, and footwear showcased what Adidas football should look like, delivering record commercial volume across key markets.

Sportswear icon builds on century-old athletic heritage

Founded in 1949 in Herzogenaurach, Germany, Adidas manufactures performance athletic footwear, lifestyle apparel, and equipment across global markets. Generating €13.3 billion in revenue during H1, FY26, the company plans to achieve €2.3 billion in full-year operating profit by scaling high-margin DTC channels and expanding core footwear and apparel categories.