Puma confident of boost in ‘year of sports’
08/05/2024
Revenues increased by 0.5% to € 2.1 billion, reflecting a negative currency impact of approximately €100 million.
Sales in footwear were up 3.1%, largely driven by demand for football and other performance categories. Sales in apparel and accessories declined by 2.4% and 3.2% respectively.
Puma has also launched its first global brand campaign in 10 years, to coincide with a “year for sports”, featuring UEFA Euro 2024, CONMEBOL Copa América and the Olympic and Paralympic Games.
Mr Freundt said: “While the market continues to be volatile, we delivered growth and gross profit margin improvement despite significant currency headwinds and high prior year comparables.
“Our retail partners are still working through elevated stock levels, but as our sell-through was higher than our sell-ins, we jointly improved the inventory levels in the wholesale channel.
“We already see that sales of our trending terrace and skate styles Palermo and Suede XL are accelerating month over month and we are very excited to launch our vintage running franchise Easy Rider and low profile shoes Mostro, Speedcat and Inhale this year. With our good order book for the second half of the year and the great start of our brand campaign, I feel very confident about our sequential quarter-over-quarter improvement in 2024.
“I could not imagine a better year than the 2024 Year of Sport to advance Puma’s brand elevation journey.”
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