Continued growth for Puma in the third quarter

Puma has announced continued growth in the third quarter of 2016.
Sales increased by 10.7 per cent, currency adjusted to € 990.2 million (+8.3% reported).
The brand said that all regions contributed to this growth, with EMEA and the Americas being the main drivers.
Footwear once again performed particularly well with a currency adjusted increase of 16.4 per cent.
The EMEA region continued its growth, supported by strong demand for footwear products.
Bjørn Gulden, Chief Executive Officer of PUMA, said: “We have seen a solid improvement in the sell-­through of our products at retail in the third quarter. New product lines like the Fierce, the Platform, the Ignite Dual and the Fenty lines have shown to be “right” for the consumers and our marketing with personalities like Rihanna, Kylie Jenner, Cara Delevingne and, of course the unbelievable performance of Usain Bolt, have increased our brand heat.
“More consumers are buying our new products at full price and retailers are therefore more satisfied with us. It is now our job to use this momentum to get more of the right Puma products on their shelves.
“Sales developed a little better than expected, gross margin came in as expected and this combined with a strong discipline on the cost side resulted in a nice improvement in our earnings.”
With three months to go Puma are confident in fulfilling their guidance and expect their full-­year EBIT to be in the upper half of the already communicated range of €115 million to €125 million.

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