Puma Net Jumps on Strong, Broad-Based Sales Gains
The Big Cat’s net income jumped 60% to €49.7 million ($55.4 mm) against €31.1 million for the second quarter ended Jun. 30 as sales improved 17% to €1,226.8 million ($1,367.6 mm) from €1,049.2 million, led by strong gains in the Americas and Asia/Pacific and double-digit gains in both apparel and footwear. With a first half that has sales up 17% and a forecast of 10-11% growth in H2, Puma cautiously raised its outlook for the year to growth of 13% vs. an earlier forecast of 10% and an operating income projection of €410-430 million against an initial forecast of €395-415 ... Log in to view full article.