Puma has released its second quarter and first half results. Global brand sales reached almost €1.2 billion in the first half. Worldwide branded sales, including consolidated and license sales, totalled €529 million during the second quarter, marking a 14.3% increase from the same period last year. During the first six months branded sales grew 16.4%. Footwear sales rose by 16.3% (in Euro 14.5%) to €676 million, apparel by 14.5% (12.7%) to €393 million and accessories by 34.4% (32.6%) to €99 million.
The licensed business grew a strong 19.1% to €134 million in the second quarter, and 26.7% after six months to €276 million.

Due to a tax rate decline this year, net earnings rose from €52 million to €59 million in the second quarter and from €132 million to €150 million in the first half.

Based on the strong results achieved so far, Puma’s management has raised sales guidance from previously mid to high single digit growth to up to 10%. Gross profit margin is also expected to reach the higher end of the guidance between 51% and 52%.