The Big Cat pre-announced full-year net income of €282 million ($307 mm), an 8% decline from last year’s €305 million profit, on 3% (+4% constant currency) top-line growth to €8,817 million ($9,584 mm). The shortfall in net income was blamed on higher interest expenses and the share of profits that go to non-controlling interests. Puma said that all geographies, product categories, and distribution channels grew on a constant currency basis last year, and gross margin expanded by 110 basis points to 47.4%.

Though final quarter revenue growth did not quite match its ... Log in to view full article.