Puma’s net income slipped 3% in the third quarter to €127.8 million ($140.4 mm) from €131.7 million on sales that ticked lower to €2,308.2 million ($2,536.5 mm) from €2,311.1 million but would have been up 5% constant currency. Direct-to-consumer outperformed, jumping 11% (+17% CC) to €580.0 million, including 13% CC growth in stores as 26% CC e-commerce gains. DTC’s share of total sales increased 240 basis points to 25.1%. Wholesale dipped 3% (+2% CC) to €1,728.2 million, as retailers lower inventories provided opportunities for sell-in.

Footwear again powered Puma’s gains, growing 2% ... Log in to view full article.