Puma Back on Track with Sales, Profit Gains in Q3
The Big Cat bounced back from its difficult second quarter with a return to top- and bottom-line growth in Q3, including net income that increased 13% to €113.6 million ($132.9 mm) from €132.9 million on 7% higher revenues of €1,583.4 million ($1,851.9 mm) vs. €1,477.6 million that would have been up 13% constant currency. The euro’s 5% year-over-year appreciation against the dollar and gains against the renminbi and other Asian currencies were a significant headwind to reported revenues. Wholesale turned in a 12% currency adjusted improvement to €1,202.5 million, and direct-to-consumer grew 17% CC to €380.9 million, including a 61% ... Log in to view full article.