Full-year outlook still in sight for Puma despite retailers’ caution
Sports group Puma has reported revenues of €6.25 billion for the first nine months of 2022, an increase of 18% compared to the same period in 2021.
It attributed the growth to continued brand momentum, successful product launches and a high level of service to retail partners and consumers.
Chief executive, Bjørn Gulden, said categories such as running, football and basketball continued to do well. He said Puma had seen strong demand for footwear, but that, for apparel, it had observed high inventory levels in the market, which had led retailers “to order more cautiously than a year ago”.
He said the company expected to see continued volatility in what remains of the year. “But we are confident that we can deliver to our full-year outlook,” he said.
