Puma releases third-quarter results
29/10/2012
Sales increased by 6% compared to the third quarter of last year, reaching EUR 892.2 million, but earnings before tax and other expenses were down 16.7% to EUR 98.8 million.
Over the first nine months of 2012, Puma achieved almost EUR 2.5 billion in sales, an increase compared to the same period last year of 7.8%. Footwear contributed EUR 1.2 billion of this total, apparel EUR 835.2 million and accessories EUR 403.4 million.
On announcing the result, chief executive, Franz Koch, said: “Puma posted a moderate increase in sales in the third quarter despite the challenging business climate in Europe. We have taken decisive actions to overcome the issues we are currently facing in particular in Europe. Our transformation programme for 2010-2015, in combination with immediate cost-cutting measures and a strengthened product pipeline in performance and lifestyle for next year, will provide a solid basis for sustainable and desirable growth.”
Share this story:
