Puma boosts second-quarter earnings and sales

27th July 2004, Comments 0 comments

27 July 2004, HERZOGENAURACH - Puma, the German-based maker of sports shoes and clothing, beat analysts' expectations, announcing Tuesday it had lifted sales 17 percent year-on-year to EUR 352 million in the second quarter.

27 July 2004

HERZOGENAURACH - Puma, the German-based maker of sports shoes and clothing, beat analysts' expectations, announcing Tuesday it had lifted sales 17 percent year-on-year to EUR 352 million in the second quarter.

Combined with the first quarter, consolidated sales were up 24 percent in the first six months, and Puma predicted sales growth for the full year of about 20 percent and earnings growth of more than 30 percent.

The company, based in the provincial German town of Herzogenaurach, had previously pegged its full-year sales growth at "15 to 20" percent with shoppers scooping up its trendy products where the look matters just as much as wearability.

Puma has successfully repositioned itself as a lifestyle brand and vowed to resist discounting so as to protect its prestigious image.

The announcement said branded sales, which comprise not only what has passed through its own warehouses but also sales by other companies using the Puma label under licence, had increased 20 percent in the second quarter.

It said earnings before interest and taxes jumped from EUR 55 million to EUR 77 million in the second quarter, and from EUR 127 million to EUR 194 million for the entire first half.

"Due to a strong order intake, total future orders were up by 22 percent at the end of June," said the company, which is listed on the Frankfurt Stock Exchange.

DPA

Subject: German news

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