Puma breaks through 4 billion euro turnover milestone | RetailDetail

Puma breaks through 4 billion euro turnover milestone

Puma breaks through 4 billion euro turnover milestone
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In its past fiscal year, German sports brand Puma surpassed the four billion euro turnover milestone for the first time ever. That was thanks to a 16 % turnover growth compared to the year before.

 

Net profit doubled

To be precise, Puma’s turnover grew 15.9 % to 4.14 billion euro in the past fiscal year. Taking exchange rates into account, its growth was still 14 %. Its profit also surged: operational profit double, from 128 million euro to 245 million euro and its net profit ended up at 136 million euro, more than double its result from last year.

 

“2017 was a great year for us at Puma. We grew 16% and achieved for the first time in the history sales above € 4 billion”, CEO Bjorn Gulden said. “This momentum together with positive feedback from consumers and our retail partners makes us look positive into 2018. We expect to increase our sales around 10% in constant currencies in 2018 and we expect to increase our EBIT to between € 305 million to € 325 million (€ 245 million in 2017).”

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