×
By
Reuters API
Published
Oct 28, 2020
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Puma reports strong rebound in Americas and Europe

By
Reuters API
Published
Oct 28, 2020

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.


Photo: Puma - Reuters



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.

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.
 

© Thomson Reuters 2020 All rights reserved.