Puma Moves to Recovery Phase, Sees Normal in 2021
What should have been a strong year based on a fast start and the prospect of the Euro Cup and Olympics deteriorated rapidly in Q1 as Puma reported net income plunged 62% to €36.2 million ($39.1 mm) from €94.4 million for the quarter ended Mar. 31 as revenue dipped 1% to €1,299.8 million ($1,405.2 mm) from €1,319.3 million. While the Americas and EMEA eked out modest gains for the period, the earlier onset of the pandemic in China pulled the Asia/Pacific region down double digits. And with Asia/Pacific in the early stages of recovery and the rest of the world ... Log in to view full article.