Puma to focus on US and China following strong Q2
Strong sales in Europe and Asia have led to a 6% rise in second quarter sales for sportswear brand Puma to €2.1 billion.
Both areas grew around 25%, however, sales fell in North America due to “macroeconomic headwinds” and dependency on the off-price wholesale business which will be “strategically contained” going forward.
Sales in footwear were up 18.2%, driven by continued strong demand for football, basketball and performance running categories as well as for sportstyle. Sales in clothing grew by 4.2% and accessories were up by 3.3%.
Puma signed several athletes during the quarter, including footballer Xavi Simons and runner Julien Alfred.
CEO Arne Freundt said: “Puma continued to grow by double-digits, demonstrating continued strong brand momentum, despite the volatile environment. We worked with our retailers through elevated inventory levels and successfully normalized our own inventory levels as planned.
"Our strategic priorities - brand elevation, winning in the US and China - are key for our growth trajectory."
