Adidas 15% FX Sales Surge Highlights Nike’s Traffic Declines
NKE•Adidas reported 15% foreign-exchange sales growth and a 10.6% EBIT margin, generating €250 million in Q1 World Cup sales while Nike saw a 2% decline in web traffic and a 4.8% drop in U.S. store visits for April–May. Adidas’ product launches and sponsorship of 14 teams intensify pressure on Nike’s turnaround.
1. Adidas Q1 Sales and Profit
Adidas posted 15% sales growth at constant foreign-exchange rates in Q1 with a 10.6% EBIT margin (+470bps YoY), driven by €250 million in World Cup-related sales and upcoming product showcases at Innovation Day on Sept. 23–24.
2. Traffic Metrics Contrast
Adidas reported a 33% YoY increase in web traffic and a 4.2% rise in U.S. store foot traffic for May, while Nike experienced a 2% drop in web visits and a 4.8% decline in U.S. foot traffic, highlighting Adidas’ execution strength.
3. Implications for Nike
Adidas’ momentum, bolstered by its U.S.-only soccer store and Nordstrom pop-up activations, intensifies competition as Nike navigates a slower brand turnaround, potentially pressuring its revenue growth and market valuation.
