The Big a revealed that sales of leftover Yeezy inventory and better-than-expected business otherwise resulted in a 6% decline in revenues to €5,999 million ($6,528 mm)from €6,408 million, up 1% in local currencies. Gross margin expanded by 20 basis points in the third quarter to 49.3%, helping drive an operating profit of €409 million ($445 mm), down from €564 million prior. Operating margin contracted by 200 basis points to 6.8% from 8.8%. The preliminary results were encouraging, ahead of Adidas official Q3 earnings ... Log in to view full article.