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Article Date: May 2024
Word Count: 649

Puma Approaches Growth Inflection Point

The Big Cat continued to suffer from unfavorable foreign exchange impacts, as net income in the first quarter slipped 26% to €87.3 million ($94.9 mm) from €117.3 million, on 4% lower revenues of €2,102.3 million ($2,285.1 mm) down from €2,187.7 million. Constant currency revenues would have been slightly positive compared to last year. Wholesale struggled, falling 3% CC to €1,608.1 million, but PUM avers that sell-through is outpacing sell-in at wholesale partners, making room for newness to come. Direct-to-consumer outperformed, growing 14% CC to €494.2 million and hitting 23.5% penetration up ... Log in to view full article.


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