Record year for sporting goods manufacturer Puma
The sporting goods manufacturer Puma exceeds the sales and profit targets that have already been raised in the course of the year. CEO Bjørn Gulden expects top trend sales to increase again this year.
Already in the first half of 2019 For Puma Top Trend
Puma hurried from one record to the next. As a result, the sporting goods manufacturer had already raised the targets for 2019 top trend. With an even stronger second half of the year, these goals were exceeded. Puma grew 18 percent on a currency neutral basis in the fourth quarter.
“With an annual turnover of 5.5 billion euros and a profit of 440 million euros, 2019 was the best year in our company’s history.” Bjørn Gulden, Puma board chairman
The operating result (EBIT) even grew by almost half to 55 million euros. Puma achieved double-digit growth in all regions. The Asia / Pacific region grew the most. Driven by good sales in Germany, Spain, Russia and Turkey, the EMEA region passed the two billion euro sales hurdle for the first time. The same applies to the textiles product area, which also achieved sales of over two billion euros for the first time in the company’s history.
Sales jump expected
The largest product area, shoes, grew by 17 percent, driven by the categories sport style, running and Motorsport. Puma is cautiously optimistic about the outlook for the top trend current year. According to Puma, the uncertainties regarding the corona virus are making the business forecast more difficult. In China, half of the Puma stores are currently closed. Nevertheless, Puma expects an increase in sales of ten percent