Adidas announced on April 29 that its first-quarter revenues for fiscal 2026 rose 14% year-on-year to €6.6 billion. The results coincided with the company's success at the London Marathon, where its athletes secured top spots and a women's world record. CEO Bjørn Gulden emphasized the brand's strong product demand and innovation efforts.
Adidas equipped sub-two-hour runners Sabastian Sawe, who finished first, and Yomif Kejelcha, second, along with Tigist Assefa, who set a new women's world record of 2:15.41. All wore the Pro Evo 3 supershoe. The company plans to release a documentary on the sub-two-hour marathon on April 30 and shared a trailer with investors during the earnings call. Gulden described the weekend's achievements as the result of years of work in product development, marketing, and athlete training, calling it particularly impressive given the runners' performances. He noted high internal energy and strong consumer demand for the products, marking a great start to 2026, the final year of the 'Own the Game' growth plan. Direct-to-consumer sales increased 22%, while wholesale grew 8% on a constant currency basis. Footwear sales rose 4%, apparel 31%, and accessories 13%. Performance categories shone, with soccer up 49%, running 28%, training 12%, and motorsport 79% due to the new Audi partnership. Lifestyle revenues grew 6%. By region, Europe saw 6% growth to €2 billion, North America 12% to €1.2 billion despite market nerves from high oil prices, Greater China 17% to €1.1 billion, Japan and South Korea 23% to €405 million, Latin America 26% to €831 million ahead of the World Cup, and emerging markets 10% to €869 million. Gulden mentioned business losses in Middle East countries over the last four to five weeks due to the conflict. Looking ahead, Adidas forecasts high-single-digit revenue growth for the year, boosted by the World Cup, where it supplies the ball, kits for 14 teams, and expects about a third of players to wear its shoes.
