Adidas posted stronger-than-expected profit as sneaker and apparel demand held up

Operating profit rose 16% to €705 million in the first quarter, topping analyst forecasts, even as tariffs and a stronger euro weighed on results

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Adidas reported first-quarter operating profit of €705 million, up 16% from €610 million a year earlier, topping analyst expectations. The €647 million figure that analysts had forecast, per a company-compiled poll cited by Reuters, fell short of the actual result by nearly €60 million.

Net sales reached €6.6 billion, up 7% in euro terms and 14% on a currency-neutral basis. Currency movements reduced reported revenue by more than 6 percentage points, or about €350 million, the company said.

"I am very proud of the results our teams delivered in the first quarter," CEO Bjørn Gulden said........

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