Sales fall at Puma is “expected”
25/07/2013
Sales in the apparel segment declined by 6.8% to EUR 227 million while footwear sales fell 7.3% to EUR 330 million.
However, accessories climbed 10.9% to EUR 136 million, as the company’s joint ventures for socks and bodywear continued to outperform. Cobra Puma Golf - one of its most successful categories - grew by double digits.
Chief financial officer Michael Laemmermann said: “Despite sluggish performances in Southern Europe and the Far East as well as currency headwinds impacting sales, Puma’s second quarter performance was in line with our full-year guidance. We have pushed forward with our transformation and cost reduction programme and continued to reduce the number of underperforming retail stores.” The company has closed 60 stores this year.
It added that its top-selling adaptive running shoe Mobium Elite was “gaining momentum” with new styles and colours offered in the coming seasons, while its recently launched evoSPEED football boot got off to a good start.
Senior changes are the top, with a new chief executive, chief operating officer and creative director onboard, means the company is “well-positioned to secure profitable, long-term growth”, it said.
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