Adidas announced preliminary results for its second quarter on Tuesday that reflect the continued turnaround at the German sportswear giant. Revenue for the three months ending with June rose 9% to $6.35 billion (€5.82 billion based on current exchange rates). The gain was 16% on a currency-neutral basis and if Yeezy sales are excluded both years.
Operating profit nearly doubled to $377 million. The company cited better “sell-throughs, reduced discounting, lower sourcing costs and a more favorable category mix” for the profit surge. Sportico
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