Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Puma first quarter sales soar

German sportswear giant Puma grew sales by 13.2% to €773m (£689.2m) in the three months to March 31.

Puma said EBIT was 2.1% higher than in the same period last year at €111m (£99m) while net profits improved by 7.1% to €77.7m (£69.3m).

Puma, which is the world’s third largest sports brand after Nike and Adidas, said that the first quarter performance was a strong start to 2011 and that all product segments showed considerable growth.

Footwear sales soared by 6.8% to €417.2m (£372m), clothing sales grew 2.2% to €241.8m (£215.7m) and accessories sales jumped 42.4% to €114.4m (£102m).

Puma also increased sales in Japan in the quarter, one of its key markets, despite the disruption caused by last month’s earthquake and tsunami.

Jochen Zeitz, outgoing chief executive said: “For the full year 2011 we continue to expect an increase in net earnings in the mid single-digit percentage range with sales targeting the €3bn (£2.67bn) milestone for the first time.”

Zeitz, who is leaving Puma to head up the sport lifestyle division at Gucci owner PPR, highlighted sailing and clothing related to women’s football as two key areas for Puma this year.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.