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PUMA reports strong second quarter

PUMA has said its currency-adjusted second quarter sales increased by around 96% to €1.589 billion due to continued brand momentum, successful product launches with high sell-throughs,… View Article

FASHION RETAIL NEWS UK

PUMA reports strong second quarter

PUMA has said its currency-adjusted second quarter sales increased by around 96% to €1.589 billion due to continued brand momentum, successful product launches with high sell-throughs, and strong regional growth especially in North America.

In addition, the sportswear brand saw its EBIT swing to a profit of approximately €109 million in the period.

Taking into account uncertainties relating to the Covid-19 pandemic such as political tensions in key markets and potential supply chain constraints, PUMA now expects its currency-adjusted sales to rise by at least 20% in its full year compared to a previous forecast of an uplift in the mid-teens.

Meanwhile, EBIT is anticipated to come in between €400 million and €500 million.

PUMA added: “The achievement of our outlook is subject to continued manufacturing operations in our key sourcing countries such as Vietnam and China and no major interruptions due to Covid-19.”

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