PUMA POSTS STRONG Q2 SALES
PUMA continues full-steam ahead with a robust growth in the second quarter of 2017. Sales surged 16.3% adjusted to currencies to € 968.7 million with all regions contributing to the double-digit hike. Footwear continued to be the main driver, followed by apparel.
Net earnings ballooned from € 1.6 million to € 21.9 million and earnings per share stood at € 1.46 compared to € 0.11 in the second quarter of last year.
“In another positive quarter, we achieved double-digit growth in all regions and in both footwear and apparel. This combined with a good sell-through in retail and a good orderbook for the next quarters made us raise the outlook for the full year. We now expect a currency adjusted sales growth for the full year between 12% and 14% and a full-year EBIT between € 205 million and 215 million,” says Bjørn Gulden, Chief Executive Officer of PUMA SE. Since he joined in 2013, the executive has been pivotal in Puma’s turnaround.
In the same period, the Kering-owned sportswear giant also posted three major wins in football with Arsenal FC winning the FA Cup, BVB Borussia Dortmund securing the DFB cup and Chivas winning Mexican championship. In the same period, Puma introduced its new lacing technology NETFIT across performance and sportstyle footwear.
With its mix of sports stars and celebrities such as Rihanna, Kylie Jenner and Cara Delevingne, Puma is on target for a better-than-expected blockbuster year.