What’s driving Adidas lower today?

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Adidas Slides 6.26% Today on Weakness

Highlights

Adidas reported third-quarter revenue of $6.63 billion, signaling higher sales despite challenging market conditions.
Adidas revised its forecast for U.S. tariffs, now expecting a $120 million reduction in 2025 operating profit versus the earlier $200 million estimate.
CEO Bjorn Gulden warned that U.S. retailers are ordering more cautiously, raising concerns about near-term demand and consumer uncertainty in the U.S. market.

Reduced tariff hit offsets demand caution among U.S. retailers

Adidas posted third-quarter revenue of €6.63 billion and updated its forecast for the impact of U.S. tariffs, now expecting a €120 million reduction in 2025 operating profit instead of a previous €200 million estimate. During a conference call on October 29, 2025, management noted U.S. retailers are ordering more cautiously, raising concerns about near-term demand in that market. CEO Bjorn Gulden confirmed the largest tariff impact will affect the fourth quarter and highlighted continued uncertainty about indirect effects on U.S. consumers.

Anton Kharitonov, expert at Traders Union, highlights that Adidas is under significant short-term pressure, with shares trading below key moving averages and daily sentiment weighed down by renewed tariff concerns in the U.S. He notes that management’s downward revision of tariff impact, while positive, is tempered by cautious retailer demand and prevailing negative news tone, dampening investor confidence. "Until we see improved demand signals from U.S. retailers or clarity on tariff risk, I would keep capital deployment conservative in Adidas," says Kharitonov.

Viktoras Karapetjanc, expert at Traders Union, acknowledges that Adidas faces both external macroeconomic headwinds and internal uncertainties related to U.S. tariffs and consumer demand. He points out that the updated tariff guidance offers only modest relief amid global risk factors and that cautious U.S. retailer behavior may reflect lingering economic pressures. Karapetjanc remarks, "For now, Adidas remains exposed to cyclical risks and global retail weakness — buyers should watch for stabilization in broader markets before considering entry."

Jainam Mehta, market strategist, sees little to be optimistic about given the stock’s technical breakdown and the lack of meaningful support below the current $172.85 level. He underscores the risk of continued downside due to overlapping pressure from negative price momentum and unresolved macro factors. "The bearish trend is reinforced both fundamentally and technically — I would avoid this stock until there’s actual evidence of a reversal," warns Mehta.

Oversold readings and weak trend signal intensified intraday selling

Momentum indicators present mixed signals: daily MACD is bullish but other timeframes and weekly data are bearish, while ADX shows weak daily trend strength but a more convincing trend weekly. RSI at 37.97, Stoch RSI at 0, and CCI at -134.5 all indicate a distinctly oversold condition on the daily chart. Intraday, Bear/Bull Power is negative, pointing to strong dominance by sellers, and the Awesome Oscillator also supports the negative trend. Today the stock sharply dropped $11.55 (down 6.26%), opening slightly lower than yesterday’s close without a notable gap, and currently sits near the daily low of its $171.40 – $186.60 range. Volatility is high, and there is persistent selling pressure after the open. Despite conflicting momentum across some indicators, the intraday weakness is confirmed by prevailing daily and short-term momentum signals.

Previously, it was noted that although Adidas raised its full-year operating profit outlook and improved its gross margin, reported sales growth lagged analyst estimates. Last time we reported that sideways consolidation likely as upside momentum stalls for Adidas AG.

Source of Data: ADS Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.