Adidas reported significant growth in sales and profits during the first quarter of 2025, with overall net sales increasing by 12.7% year-over-year and U.S. sales climbing by 5.5%. The company’s operating profit reached €610 million, up 81.7% from the previous year. Adidas CEO Bjørn Gulden expressed pride in the team’s achievements, noting double-digit growth across all markets despite economic volatility. However, Gulden warned that President Donald Trump’s tariffs could disrupt the business. Trump initially imposed a 10% baseline tariff on all countries importing goods to the U.S., later enforcing a 90-day pause on reciprocal tariffs while hiking tariffs on China to 145%. Adidas faces higher import costs as most of its goods are produced outside the U.S. Gulden stated that these tariffs will likely result in price increases for U.S. customers, though the exact impact remains uncertain. This warning aligns with similar concerns from retailers like Levi’s, Amazon, Temu, and Shein. — new from TheStreet