PUMA Reports 'Best Ever' Quarter Sales, Outdoing Nike and adidas for Growth
Outgrowing fellow German brand adidas, and market leader Nike, during the quarter, PUMA sales improved by 15.3 per cent to €1.32 billion (approx. $1.47 billion), with operating profit coming in at €143 million (approx. $150 million) versus a consensus forecast of €139 million.
Despite leading the market for overall earnings, Team Swoosh reported lower than expected quarterly revenue for the first time in more than a year, with sales in the US stagnating. The company’s shares have dropped 5 per cent as a result.
‘The first quarter of 2019 was the best quarter PUMA has ever seen,’ says chief executive Bjørn Gulden. ‘Even if we have nine more months to go, and despite a lot of uncertainty in the market, we feel comfortable that we will achieve our guidance for the full year.’