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.
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
BoF Careers provides essential sector insights for fashion professionals in retail this month, to help you decode fashion’s retail landscape.
Aviator Nation’s pricey sweatpants and cashmeres had a cult following before they were swept up in the “dopamine dressing” phenomenon. Now, founder Paige Mycoskie – still the brand’s only shareholder – is ready to see just how big her vision for California surfer cool can get.
Small stores can remain competitive by scaling their private labels, testing new store concepts, and offering brands consumers can’t find on Farfetch or in Selfridges.
Investing in a VIP resale platform is another play from the e-commerce pioneer to win over luxury buyers and sellers.