New investments pushing Puma second quarter sales up

Frankfurt (Germany), July 24 (ANI): A year after launching is largest ever marketing campaign to regain its top <strong class=’StrictlyAutoTagBold’>position as a sportswear company, Germany’s Puma is reporting improving sales for its second quarter, and credited the same for the new range of products it has introduced.

According to a <strong class=’StrictlyAutoTagBold’>New York Times report, second quarter sales have lifted shares by as much as three percent.

Puma has admitted to losing considerable ground in the sportswear industry to rivals Adidas and Nike.

It is now being predicted that it is in a <strong class=’StrictlyAutoTagBold’>position to earn a net profit of 920,000 Euros.

The sportswear industry sources most of its products from Asia in U.S. dollar contracts, but Puma makes a bigger portion of profits than its rivals in markets where currencies have tumbled <strong class=’StrictlyAutoTagBold’>against the greenback like Brazil, Argentina and Russia.

Sales have been driven by strong growth in the Americas, where Puma makes a third of its revenue, with a currency adjusted gain of 11.6 percent.

The group, majority owned by French luxury goods group Kering, still expects operating earnings to fall to between 80 million and 100 million euros from 128 million in 2014. (ANI with inputs)

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