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Article Date: February 2021
Word Count: 975

Puma Scales Back 2021 Expectations after Q4 Gains


Currency headwinds and the Covid resurgence proved challenging to the Big Cat’s final quarter, but results still improved overall, with a 39% increase in net income to €24.7 million ($29.4 mm) from €17.8 million and 3% top line growth to €1,520.1 million ($1,811.8 mm) from €1,478.6 million. A 57% constant currency jump in e-commerce sent DTC sales up 19% to €502.0 million, while wholesale improved 5% CC to €1,018.1 million. A strong start in Oct. saw sales jump 25%, but the second pandemic wave caused lockdowns and store closures in Europe in Nov., as well as in some markets in ... Log in to view full article.

 


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