Reported 19 days ago
Puma's sales in Q3 did not meet expectations due to weak demand and unfavorable currency conditions, leading to a revenue of 2.31 billion euros, below the 2.36 billion euros forecasted. CEO Arne Freundt expressed confidence in improved holiday sales, citing positive signals from recent shopping periods in China and the upcoming holiday season in Europe and the U.S. Despite an overall growth in footwear sales, regional performance varied, with EMEA growing only slightly while the Americas and Asia-Pacific saw stronger gains. Puma is also preparing to launch the relaunch of its 'Speedcat' shoe, aiming to boost its presence in the market.
Source: YAHOO