Q3 sales for Puma increase, company reiterates outlook

In the third quarter, Puma’s currency-adjusted sales increased 5 per cent to US $ 2,481.42 million, driven by growth in the Americas, Asia/Pacific, and EMEA areas. At US $ 2,481.42 million, sales stayed constant.

Puma reiterates that it expects mid-single-digit currency-adjusted sales growth and an operating result (EBIT) between US $ 666.53 million and US $ 720.28 million for the fiscal year 2024. The company also expects net income to fluctuate in 2024 in accordance with the operating result.

“Our full-year 2024 projection is on track with to faster sales growth in Q3, EBIT that met expectations, and a robust order book for Q4,” stated Arne Freundt, CEO of Puma SE, in response to the financial results.

Puma’s direct-to-consumer (DTC) business increased by 17 per cent to US $ 623.53 million, while its wholesale business climbed by 1.5 per cent to US $ 1857.89 million. E-commerce had a 26.4 per cent increase in sales, while company-owned and operated retail store sales rose 12.8 per cent.

The growth in performance, led by running and football, and sportstyle, headed by core and children, drove a 9.3 per cent increase in footwear sales to US $ 1333.38 million. While clothing sales fell by 0.7 per cent to US $ 820.9 million, accessory sales increased by 2.9 per cent to US $ 327.03 million.

EBIT rose by 0.3 per cent to US $ 254.79 million, the gross profit margin improved by 80 basis points to 47.9 per cent, the net income dropped by 3 per cent to US $ 137.39 million, and the financial result was negative by US $ 50.2 million.