Puma's turnover nearly doubled

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In the second quarter, German sportswear brand Puma saw its turnover and profitability rise sharply. All regions and product divisions contributed to the strong growth.

 

America on top

Between April and June, Puma achieved a sales increase of 91.2 % to nearly 1.6 billion euros. At constant currency rates, growth was even close to 96 %. North and South America performed the strongest, with a turnover increase of 165 %. Europe, the Middle East and Africa also saw a strong surge in sales (+ 85 %).

 

At the product level, footwear stood out with a reported sales growth of 108.6 %. This division accounts for almost half of the total sales of the German sports gear group. Sales of apparel (+ 82 %) and accessories (+ 67 %) also grew strongly.

 

The operating result in the second quarter amounted to 108.9 million euros, and net profit was 48.7 million euros. In the same period last year, there was still an operating loss of 114.8 million euros.

 

Asian suppliers

Puma is optimistic for the entire financial year and increased its annual forecasts earlier this month. The company now expects an increase in turnover of at least 20 % (at constant exchange rates) and an operating profit of between 400 million and 500 million euros.

 

An important condition in order to realise those targets, however, is that the coronavirus does not throw a spanner in the works again. Recent government measures in Vietnam have led to the suspension of production at some suppliers. "As the duration, intensity and possible extension of the lockdown measures to other countries remain uncertain, the realisation of our forecast will depend on the continuation of production without further significant interruptions caused by the coronavirus pandemic", Puma stated in a press release.