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Puma targets profit and sales boost

Puma has revealed it expects to grow currency-adjusted sales by about 10% a year until 2022 and it expects operating profit margin to be around 10% of sales by then, according to its mid-term financial outlook.

Puma was lagging behind its major sportswear rivals, reporting an operating margin of 5.6% last year, compared to Adidas and Nike who posted 9.8% and 13.8% respectively. In January, Puma’s French parent company Kering said it plans to distribute 70% of Puma shares to investors, retaining around 16%.

Puma has bolstered sales in recent months with high profile collaborations including a partnership with singer Rihanna.

 

 

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