Driven by outfitting 14 national teams—including co-host Mexico and finalists Spain and Argentina—Adidas posted record sales for jerseys, match balls, and tournament gear. Second-quarter apparel sales surged 35%, pulling overall Q2 revenue up 13% to €6.7 billion and driving first-half net profit to €882 million (up nearly 9%)
The core trigger for the market disappointment was the conservative guidance. While Adidas raised its full-year revenue growth forecast to 9–10%, it left its full-year operating profit target unchanged at €2.3 billion. Having built up high expectations over previous months, investors had anticipated an upgraded profit outlook.
On the daily chart level for Adidas (ADS.DE) shows a massive bearish breakdown at the end of July, terminating a multi-month uptrend that had previously pushed the price from the €130.00 region in April up to peak highs near €190.00 in early July.