×
99 414
Fashion Jobs
HOMESENSE
Loss Prevention Detective
Permanent · Woburn
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Woodland Park
MACY'S
Colleague, Visual Security Officer, Baldwin Hills Crenshaw Plaza - Flex
Permanent · Los Angeles
MACY'S
Asset Protection Detective, Ala Moana - Full Time
Permanent · Honolulu
MACY'S
Colleague, Visual Security Officer, Lakewood Center - Flex
Permanent · Lakewood
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Fresno
L'OREAL GROUP
Vice President, Creative - Kiehl's Dmi (Global Creative)
Permanent · New York
KOHLS
Full-Time Loss Prevention Officer
Permanent · City of Industry
KOHLS
Full-Time Loss Prevention Officer
Permanent · Vacaville
MICHAEL KORS STORES LLC
Full Time Sales Supervisor, Brookfield Place Nyc
Permanent · Rochester Metropolitan Area
ROSS STORES
Store Protection Specialist
Permanent · Houston
TJ MAXX
lp Detective
Permanent · Homestead
TJ MAXX
70118-Loss Prevention Detective, Newbury st, Boston, ma
Permanent · Boston
HOMEGOODS
lp Detective
Permanent · Frederick
TJ MAXX
70118-Loss Preventon Detective, Downtown Boston, ma
Permanent · Boston
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Chattanooga
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Norman
MACY'S
Asset Protection Detective, Bridgewater Commons - Full Time
Permanent · Bridgewater Township
MACY'S
Asset Protection Security Guard, Presidential Markets - Full Time
Permanent · Snellville
MACY'S
Asset Protection Detective, Santa Ana Mainplace - Part Time
Permanent · Santa Ana
MACY'S
Asset Protection Detective, Reno Meadowwood - Full Time
Permanent · Reno
MACY'S
Asset Protection Detective, Topanga - Part Time
Permanent · Los Angeles
By
Reuters
Published
Feb 14, 2013
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Puma ends sailing sponsorship as profit crumbles

By
Reuters
Published
Feb 14, 2013

FRANKFURT - Germany's Puma is to stop sponsoring sailing, including teams in the Americas Cup and the Volvo Ocean races, as part of efforts to focus on sports and products that bring in the most money.

Puma Sailing (photo: Puma.com)


Puma, which on Thursday reported 2012 profit down 70 percent, is going through its biggest reorganisation in 20 years to counter falling profits and encourage more people in the United States, Europe and China to buy its shoes and T-shirts.

The group is closing stores, cutting products and last month said it would stop sponsoring rugby, leaving the Irish rugby union team looking for new kit.

In sailing, Puma will stop sponsoring the Oracle team, current holder of the Americas Cup, after the 2013 season.

Chief Executive Franz Koch told journalists that it would take "some time" before the changes brought visible success, with sales this year expected to remain on a level with 2012's total of 3.27 billion euros (2.83 billion pounds).

The world's third-largest sportswear and equipment company, behind Nike and Adidas, is also undergoing a management reshuffle led by 82 percent shareholder PPR, the French luxury goods group that owns the Gucci brand.

Koch will leave the group at the end of March, after less than two years as CEO. A replacement will be announced in the coming weeks, Koch said.

Chief Financial Officer Michael Laemmermann and Chief Commercial Officer Stefano Caroti will lead the company with support from PPR's Jean-Francois Palus, who chairs the Puma supervisory board, until the CEO post is filled.

Puma swung to a fourth-quarter net loss of 42.6 million euros, against a consensus forecast for profit of 10.1 million euros in a Reuters poll.

Earnings were hit by costs of 98 million euros, related to a payout in Spain to claim back trademark rights and costs for closing its operations in Greece, Cyprus and Bulgaria. It will continue to distribute products to these countries.

Puma, which proposed cutting its dividend for 2012 to 0.5 euros from 2 euros the previous year, said it aimed for a significant improvement in net earnings in 2013.

© Thomson Reuters 2021 All rights reserved.