Net income dropped 10% in the third quarter to €131.7 million ($143.3 mm) from €146.4 million as continued weakness in the U.S. combined with the strengthening euro to pull revenues down 2% (+6% constant currency) to €2,311.1 million ($2,514.8 mm) against €2,354.4 million. Wholesale inched up 3% CC to €1,786.3 million, but declined in real terms as retailers struggled with excess inventory. Direct-to-consumer did much better, growing 17% CC to €524.9 million, including a 22% CC gain in owned brick-and-mortar, and an 8% CC increase in e-commerce. DTC accounted for 22.7% ... Log in to view full article.