Adidas third-quarter profit margin grows as inventories shrink
© Reuters. FILE PHOTO: An Adidas logo is seen at the new Futurecraft shoe unveiling event in New York City, New York, U.S. April 6, 2017. REUTERS/Joe Penney/File Photo
Apparel and footwear retailers in the U.S. and elsewhere are overstocked and slashing prices to help move products off the shelves. Adidas' gross margin for the quarter was up 0.2 percentage points at 49.3%, supported by reduced freight costs and fewer discounts.
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