German sports brand Puma has performed very well in the third quarter once again: turnover grew 13 % and in the first nine months, the company even achieved a 16 % turnover increase.
Strong growth for shoe sales
Excluding exchange rates, third quarter turnover even grew 17 %. However, costs also increased 11 %, mainly because of additional marketing and retail investments. Nevertheless, net profit grew from 39.5 to 62.1 million euro. Shoe sales are the engine for Puma’s improved sales, but its accessory division also performed excellently in the third quarter. The clothing division published a more modest growth, Puma revealed. Every region contributed to the sales growth: turnover for EMEA (Europe, Middle East, Africa) grew by 23 %, in the Americas by 16 % and in Asia-Pacific by 10 %.
“Our third quarter was once again a good quarter for us, with double-digit growth in every region and strong growth in every product category”, CEO Bjorn Gulden said. The company will also improve its full-year forecast on the back of these results: it expects to achieve a 14 to 16 % growth and a 235 to 245 million euro operational profit.