(Reuters) – German sportswear Adidas said on Wednesday that American customs duties had had an impact of several tens of millions of euros in the second quarter.
The group also warned against an increase in the cost of its products in the United States, up to 200 million euros in the second half of this year due to the increase in the surcharges decided by the White House.
“We do not know what will be the indirect impact on consumer demand if all these customs duties lead to significant inflation,” said the chairman of the Management Board, Bjorn Gulden, in a press release.
Adidas also recorded an increase of 2.2% of its net turnover, corrected for monetary fluctuations, reaching 5.95 billion euros during the quarter, which corresponds roughly to the average estimate of analysts, which was 6.2 billion euros, according to data compiled by LSEG.
This figure includes a negative impact of exchange effects of around 300 million euros, said the company.
The group has also confirmed its forecasts for the year.
(Written by Linda Pasquini in Gdansk and Helen Reid in London; Diana Mandia; edited by Augustin Turpin)
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