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Puma reports record results
Q2 sales at €674m after currency adjustments, increase of more than 14 per cent; H1 sales up 11.5 per cent to €1.45bn
Puma reported record second quarter (Q2) and first half (H1) results in 2011, citing investment in core markets and its ‘Back on the Attack’ company growth strategy.
Puma’s Q2 results were underpinned by running, with the Faas range driving sales, it said. Puma added that it derived success during the quarter from being involved with the Uruguay national football team and exposure across the FIFA Women’s World Cup.
Overall, footwear sales grew 16.2 per cent to €352.6m, apparel was up 10.7 per cent to €224.3m and accessories posted an increase of 15 per cent to €96.7m. In H1 the three categories posted 10.9, 6.1 and 28.3 per cent increases respectively.
In the EMEA region, sales grew 9.2 per cent to €290m in Q2 and €665m over the first six months, itself a growth of 6.5 per cent. Western and Eastern Europe were notably markets that Puma highlighted as being strong.
Looking forward, Puma said it continues to target a €3bn sales mark for its 2011 financial year although sourcing cost increases will impact gross margins and continued investment in marketing, sales and product development will continue to affect overall expenses.
Puma’s financial statement reads: “Although increases in sourcing costs and continued investments in brand and product will impact overall operational results, management foresees continuous improvement of net earnings by mid-single digits for the full year.”
Franz Koch, Puma SE chief executive officer, said: “I could not have asked for a better start to my new position as Puma’s CEO than to announce the best second quarter in Puma’s history in terms of sales, a performance that underlines our ambition to achieve our sales target of €3bn for this year.
“The investments into our core markets, in line with our ‘Back on the Attack’ company growth strategy, have started to pay off and we will continue to strengthen our brand and product in order to become the most desirable and sustainable sport lifestyle company in the world."
