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
Adidas (ADSGn.DE) said on Wednesday that inventory levels continued to improve strongly in the third quarter, as the German firm’s conservative sell-in strategy was paying off.
Inventory levels were now down 23% on the year to 4.85 billion euros ($5.18 billion), which was a little more than the sportswear giant had planned, it said.
Adidas last month lifted its full-year guidance, partly due to the positive impact of Yeezy drops through the second and third quarter.
($1 = 0.9359 euros)
Writing by Miranda Murray; Editing by Maria Sheahan
