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Shares of Adidas

fell as much as 8% on Wednesday after providing a disappointing 2026 outlook, as it grapples with unfavorable currency swings and a hit from U.S. tariffs.

The German sportswear company sees 2026 revenue growth in the high single digits from 2025′s total of 24.8 billion euros ($28.86 billion).

Operating profit is expected to increase to around 2.3 billion euros, despite a 400 million euro negative impact from U.S. tariffs and unfavorable currency developments.