Footwear propels Puma to strong second quarter

29/07/2021
Footwear propels Puma to strong second quarter
Harbour congestion and reduced freight capacity hampered Puma in the second quarter, but the German sportswear brand reported a 96% increase in sales to €1.6 billion.

Many brands expect a big jump, as stores were closed in the second quarter of 2020 when covid-related lockdowns and restrictions were in place around the globe.

Footwear was the growth driver (+114%), but apparel (+85.5%) and accessories (+72.2%) also showed strong growth.

CEO Bjørn Gulden said the company was helped by the strong ties with its sourcing and retail partners that had been cemented during the pandemic.

He said: “Supply has been difficult with a shortage in freight capacity, harbour congestion and covid-19 restrictions in certain sourcing countries. I am very proud of how our organisation has maneouvered through all of these issues and how we managed to achieve these results in the second quarter.”

Puma celebrated its athletes’ successes: Italy won the UEFA Euro 2020; athlete Karsten Warholm broke the 29-year-old 400m hurdles World Record, wearing the spikes developed in the FASTER+ programme; and it signed a long-term partnership with basketballer Breanna Stewart.

Mr Goulden added: “We are, of course, still worried about the impact covid-19 will continue to have on our business in the short-term, especially in the supply chain, but we continue to be very positive for the mid-term outlook for our sector in general and specifically for Puma. We are very proud of Italy having won the European Championship in football, playing in our products, and we look forward to great Olympic Games in Tokyo.”