Puma posts record Q2 sales
German sportswear maker Puma has announced that its second quarter net sales have increased 14.1% to EUR674 million, and has confirmed its target to grow sales to more than EUR3 billion in 2011.
It said it still expected profit to rise by a mid single-digit percentage, despite higher raw material and wage costs, with the gross margin to remain at around last year’s level in the second half.
As a result, customers can expect to see prices rise from the fourth-quarter onwards and into the first half of 2012. New CEO Franz Koch said that some products could see price increases of up to 10%.
The Japan market is also recovering faster than expected, the company said. “We have recovered much more quickly than anticipated in Japan,” Mr Koch said. “Revenue growth is up in the significant mid-single digits, even up to double digits.”
Mr Koch said he would update on any strategic changes in October or November.
