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Puma Says China Powered Strong First-Quarter Sales

The German sportswear maker raised its full-year growth target after reporting a stronger-than-expected start to 2018.

Reuters

24 April 2018

BERLIN, Germany — German sportswear maker Puma said rising demand in China helped powered a jump in first-quarter sales and earnings, even though the threat of a US-China trade war weighed on its optimism for the rest of the year.

Puma had already nudged up its 2018 forecasts earlier this month when it reported first-quarter operating profit of 112 million euros (£98.1 million), up 60 percent, on currency-adjusted sales that were up 21 percent to 1.13 billion euros.

On Tuesday, it said all regions and product segments had contributed to the growth, especially Asia/Pacific, which saw sales leap 35 percent, while running, training and sportstyle were the areas with fastest growth.

By Emma Thomasson; editor: Tom Sims.

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