Puma sales jump 20% in first quarter
28/04/2022
The Americas reported the strongest sales growth of 44%, driven by high demand for the brand in the North American and Latin American markets.
Sales in Europe were up 25% but sales in Asia-Pacific declined 17% due to the market environment in Greater China.
Puma lists partnerships with Alfa Romeo F1 Team and the Italian Lega Serie A as highlights from the three months, as well as its garment-to-garment recycling project RE:JERSEY.
CEO Bjorn Gulden said: “The demand for our products was high, both from retailers and consumers, and our operations people were able to move enough product through a tight supply chain to partly fulfil this increasing demand. I am very happy to see that the growth is coming from all product divisions and all business units.”
The German company would normally raise the full-year outlook after a strong first quarter, but Mr Gulden said global events meant the future was uncertain.
“The Covid-19 outbreak in China, the crisis in Ukraine, a very tight freight situation and inflationary pressures are all uncertainties that force us to remain very flexible and to manage our business as well as possible in the short-term without hindering Puma’s mid-term momentum,” he said.
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