German sportswear brand Puma posted positive sales growth for its third quarter aided by a rise in demand for accessories and strong sales in the Asia/Pacific region.
Overall revenues for the three months ended September 30 rose by 10.2% with adjusted currency rates to 841.6m (£732.6m) compared to 784.3m (£682.8m) in the comparative period. Much of the growth was driven by the Asia/Pacific region which saw sales grow by 16.4%. In Europe, the Middle East and Africa sales increased by 9.5% to 410.6m (£357.4m).
Third-quarter net profits were flat year-on-year at 81.7m (£71.1m) and operating profitimproved to €118.6m (£103.2m) from €116.6m (£101.5m) in the year before.
Overall accessories saw the largest growth shooting up by 13.9% to 115.8m (£100.8m). Apparel sales also saw strong growth up 13.8% to 294.7m (£256.6m). Footwear grew by 7% to 431.1m (£375.4m).
Its third quarter gross profit margin was 50%.
“Puma posted a very solid sales performance for the fifth consecutive quarter,” said Franz Koch, chief executive officer of Puma SE. “This underpins our five-year growth strategy, which is already delivering results. After a strong performance in the first nine months of this year, we are now approaching our sales target of €3bn (£2.6bn) for the full year, and despite continuing cost pressures we maintain our forecast of an improvement in net earnings in mid single-digits.“