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CNBC
5 minutes ago
- CNBC
Adidas slumps 7% as sportswear giant warns tariffs to drive up U.S. prices
Shares of Adidas fell Wednesday after the German sportswear giant flagged a double-digit million euro hit from U.S. tariffs in the second quarter and warned that current import levies will push up the cost of its U.S. goods. The world's second-largest sports retailer said that added costs associated with tariffs could total 200 million euros ($231 million) in the second half of this year. Shares were down 6.8% by 8:15 a.m. London time (3:15 a.m. ET). The company also flagged potential risks to consumer demand should U.S. tariffs set off a surge in inflation. "We do also not know what the indirect impact on consumer demand will be should all these tariffs cause major inflation," CEO Bjørn Gulden said. The company nevertheless maintained its full-year guidance, but noted this could change as it cited "elevated uncertainty due to U.S. tariffs and macroeconomic risks." It currently expects full-year currency-neutral sales to increase at the high-single digit rate and operating profit to rise to between 1.7 billion euros and 1.8 billion euros. It comes as the sports retailer posted an uptick in second-quarter sales, with the U.S. seeing the softest sales growth. Revenues rose 2% year-on-year in the three months to June 30 to 5.95 billion euros, the company said flagging a negative currency impact of 300 million euros. LSEG analysts had forecast sales of 6.23 billion euros. Operating profit rose 58% annually in the quarter 546 million euros versus the 518 million euros forecast.
Washington Post
14 minutes ago
- Washington Post
Machado's homer highlights Padres' 7-1 win over Mets, who lose Soto to bruised foot
SAN DIEGO — Manny Machado hit a three-run homer during a five-run seventh inning and the San Diego Padres won 7-1 on Tuesday night against the NL East-leading New York Mets, who watched slugger Juan Soto leave the game after fouling a ball off his left foot in the fourth. The Mets announced that Soto has a bruised foot. He was in considerable pain as he was checked by a trainer. He took a few swings and finished his at-bat, grounding out as second baseman Jake Cronenworth made a diving stop. New York got just four hits in losing its second straight to the Padres following a seven-game winning streak. Machado greeted reliever Chris Devenski by hitting his 20th homer of the season off the facade of the second deck in left field with two outs in the seventh. Elías Díaz hit a two-run double with one out in the seventh, off José Buttó (3-2). Jackson Merrill broke a 1-all tie in the sixth when he hit a chopper off Buttó that bounced over the head of first baseman Pete Alonso and rolled into the right-field corner for an RBI triple. Luis Arraez, aboard on a single, scored easily. Merrill also had a run-scoring single off starter Sean Manaea in the first. New York tied it in the fifth on pinch-hitter Starling Marte's bases-loaded sacrifice fly. Manaea, who pitched for the Padres in 2022, allowed one run and three hits in five innings, with four strikeouts and no walks. Padres rookie Ryan Bergert loaded the bases with no outs in the fifth and made way for Jeremiah Estrada. He struck out Francisco Lindor and then allowed Marte's sac fly before retiring slugger Pete Alonso. Wandy Peralta (5-1) pitched a scoreless inning for the win. Machado's homer put a charge into the sellout crowd of 45,088. Machado joined five other active big leaguers who have at least 10 seasons of 20 homers. Mets RHP Clay Holmes (9-5, 3.40 ERA) and Padres RHP Yu Darvish (0-3, 9.18) are scheduled to start Wednesday's series finale. ___ AP MLB:
New York Post
34 minutes ago
- New York Post
Mets send Huascar Brazoban down to minors with hopes of getting him stretched out
Access the Mets beat like never before Join Post Sports+ for exciting subscriber-only features, including real-time texting with Mike Puma about the inside buzz on the Mets. Try it free SAN DIEGO — The Mets sent down a reliever who was tied for the team lead in games pitched. Needing an arm that wasn't weary and eyeing a fresher, more stretched-out version of Huascar Brazobán later in the season, the Mets optioned the righty, who had pitched in more games than every reliever on the team except Reed Garrett. Advertisement Brazobán has been a mainstay for the club all season, although his usage had evolved during the grind of a long season. When the Mets bullpen was at its best in April, Brazobán was a multi-inning weapon who recorded as many as seven outs in an appearance and had thrown 34 pitches in his season debut. In each of the 35-year-old's past 12 games, he did not record more than three outs. Advertisement When Brazobán returns later this summer, the Mets hope they will be bringing up the strong, lengthy reliever they saw in April. 'He's done a lot for us,' manager Carlos Mendoza said before Tuesday's 7-1 loss to the Padres at Petco Park. 'We want to use this time to continue to build him up for a potential role here — because we told him, 'You're going to be back here.'' Brazobán will have a more scripted throwing program with Triple-A Syracuse, stretching out to 'hopefully up to 40 pitches,' Mendoza said. The Mets needed a fresh arm, and Brazobán's was not: He contributed to Monday's fifth-inning implosion and had owned a 10.66 ERA in his past 14 games. Advertisement Mets reliever Huascar Brazobán had owned a 10.66 ERA in his past 14 games. AP Typically when the club has needed a reliever who could be available immediately over the past month, it has designated a pitcher for assignment. This time, as the Mets made room for the recently DFA'd and now re-signed Chris Devenski, Brazobán was sent down and Rico Garcia was retained. Garcia, who has been on and off the roster, has delivered — he entered play without allowing a run in 9 ²/₃ innings with the Mets. He is trying to carve out a more permanent role in the bullpen. Advertisement 'He continues to show us that he can help us,' Mendoza said of the righty. In each of Huascar Brazobán's past 12 games, he did not record more than three outs. AP Jesse Winker (back inflammation) is not close to a return. Placed on the injured list on July 11, Winker is 'not doing much,' Mendoza said, and is at least a few days away from resuming baseball activities. The Mets are still confident Winker will return at some point this season. 'That's what the trainers are telling us,' Mendoza said. 'We just got to wait.' Advertisement For the first time all season, Jeff McNeil, who went 1-for-4, started a third straight game in center field. The Mets had shown more caution earlier this season with a natural infielder whose legs they want to keep fresh. Delivering insights on all things Amazin's Sign up for Inside the Mets by Mike Puma, exclusively on Sports+ Thank you Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Enjoy this Post Sports+ exclusive newsletter! Check out more newsletters Advertisement 'Taking advantage of the beautiful weather here. San Francisco wasn't too hot,' Mendoza said. 'I'll check with him. He's doing a good job of just kind of monitoring that workload.' Tylor Megill (right elbow sprain) is set to throw a bullpen session that approximates multiple 'innings' on Wednesday, Mendoza said. If all goes well, the righty then would begin facing hitters.
