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Article Date: July 2021
Word Count: 755

Puma Q2 Soars on Strong North American Rebound


The Big Cat posted a €48.7 million ($58.7 mm) profit in the second quarter, lapping a €95.6 million loss in the pandemic-hit quarter last year, as revenues grew by 91% to €1,589.1 million ($1,914.6 mm) from €831.1 million. Compared to 2019, the top line was up 30%, but net income slipped by 2%, largely due to a slimmer gross margin this year of 47.5%, down from 49.3% in Q2 ’19. Supply chain issues, including delays and skyrocketing shipping costs, negatively impacted gross margin, though it improved from 2020’s 43.9% due to better sell-through and less promotional activity.

 

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