Puma reports strong rebound in Americas and Europe

German sportswear company Puma reported a strong rebound in third-quarter sales in the Americas and Europe as stores reopened after coronavirus lockdowns and online sales boomed, helped by people exercising more during the pandemic.

Puma said sales rose by a currency-adjusted 13% to 1.58 billion euros (1.4 billion pounds) and operating profit by 17% to 190 million euros, beating average analyst forecasts for 1.56 billion and 174 million euros respectively.

Sales jumped 20.7% in the Americas and 17.7% in the Europe, Middle East and Africa region, with categories such as basketball, motorsport, golf and team sports showing the highest growth rates.

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However, Puma noted that consumer sentiment was turning negative again as coronavirus infections rise and said it could not provide a reliable outlook for the full year despite its optimism on medium and long-term perspectives.

Nike Inc, the world's largest sports athletic shoe manufacturer, last month reported quarterly profit and revenue ahead of Wall Street estimates.