The spread of COVID-19 into Europe and North America, along with a slower than expected return to normal in China, led The Big Cat to rescind its guidance for 10% top line growth this year. Puma had expected the crisis to be substantially over by now, when it gave a detailed status report of its factory and distribution network last month. As it expected, Tier 1 (finished product) supplier factories are all open, and operating at 80%-100% of capacity, and most Tier 2 (material) factories are also up and running. Other than minor delays, its global supply chain is humming ... Log in to view full article.