Adidas AG slumped after the German company reported weaker-than-expected revenue growth, echoing the concerns of cross-town rival Puma SE last week about the impact of US tariffs.

Despite strong sales and profit growth in the second quarter and first half of the year Adidas has warned of the impact of tariffs costs.

Adidas shares fell 7.5% in early trade on Wednesday after the sportswear brand's second-quarter sales missed expectations and it warned that higher U.S. tariffs would add around 200 million euros ($231 million) to its costs in the second half.