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Puma Raises 2021 Outlook, Prompted by Strong Q2

Puma's first quarter earnings beat expectations. — Puma store. Shutterstock. (Shutterstock)

Reuters

16 July 2021

German sportswear company Puma raised its 2021 sales outlook on Friday, boosted by strong second quarter demand, especially in North America.

Puma said it now expects 2021 currency-adjusted sales to rise by at least 20 percent, up from its previous forecast of mid-teens sales growth for the year.

It also specified full-year operating profit guidance, now expecting earnings before interest and taxes (EBIT) between €400 and 500 million ($472-590 million).

Second quarter currency-adjusted sales nearly doubled to €1.589 billion and EBIT swung to a profit of around €109 million, Puma said.

By Riham Alkousaa; Editor: Maria Sheahan

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