Puma Posts Big Q1, but China and Supply Chain Concerns Remain
Net income more than tripled to €109.2 million ($131.6 mm) from €36.2 million in the first quarter, on a 19% jump in revenues to €1,548.8 million ($1,866.0 mm) from €1,299.8 million that was up 26% constant currency. In the first period lapping 2020’s pandemic, the Big Cat was still held back by lingering effects in some markets, with the added headwind of the global supply chain issues of container shortages and port congestion in North America. E-commerce soared 75% CC, driving direct-to-consumer sales up 31% CC to €346.8 million, while wholesale improved 24% CC to €1,202.0 million. The top- and ... Log in to view full article.