The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
HERZOGENAURACH, Germany — Puma SE increased its full-year forecasts for the second time in three months as the German sporting goods maker unexpectedly reported a jump in quarterly sales and profit.
Currency-adjusted revenue for 2017 will rise by 12 percent to 14 percent, the company said in an unscheduled statement Monday, up from a prior forecast of low double-digit growth. Puma boosted its projection for operating profit to a range of €205 million ($235 million) to €215 million, from €185 million to €200 million.
Puma, which had already raised the forecasts in April, is into the fourth year of a turnaround, balancing sportswear and street styles with the help of endorsements from celebrities including sprinter Usain Bolt and singer Rihanna. The shares surged as much as 7.1 percent to €364.90, extending their gain this year to 44 percent.
Second-quarter sales rose 17 percent to €968.7 million, representing growth of 16 percent at constant exchange rates, the company said. Operating profit jumped to €43.4 million from €11.9 million a year earlier. Puma said it will release full results for the quarter on July 26.
By Paul Jarvis; editor: Eric Pfanner.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.