Flat first quarter for Puma
Puma’s first quarter sales declined by 0.5% to €726 million, which the German company described as “expected”.
It represents a decrease of 7.1%, as currency volatility in Russia, Turkey, North America, Latin America, India and Japan had a negative impact on sales in euro terms.
Puma CEO Bjørn Gulden said: “We know that the repositioning of Puma and the turnaround of the business will take time, but I am convinced that we are progressing well on all our key strategic priorities and that we have initiated the right projects to make 2014 the start of the turnaround.”
Ahead of the football World Cup which starts in June, the launch of Puma’s football shirts for its eight teams, including Italy, Chile and Ghana, helped apparel sales increase by 3% currency adjusted to €246 million.
The team sport category was strengthened by the positive reception of the new evoPOWER football boot.
Accessories performed well, with sales increasing 9.5% currency adjusted to €159 million due to demand for socks and bodywear.
Footwear sales declined by 7.1% to €321 million as the motorsport business continued to decline in mature markets.
