Puma profit falls by 43%
Sales of sporting goods manufacturer Puma in the third quarter of 2014 increased by 6,4% compared to the same period in 2013 to 843 million euros. In nine months, this figure fell by 2,9% (compared to January - September 2013) and amounted to 2,2 billion euros.
Puma sold shoes worth 972 million euros, apparel and accessories - 810 million and 439 million euros, respectively. Net profit for the nine months of 2014 fell by 43% to 68,6 million euros.
The company attributes the drop in profits to the negative impact of exchange rate differences, as well as to marketing expenses associated with the launch of the Forever Faster brand. Puma also invested in a new contract with the English Premier League Arsenal football club, and in September bought back 5% of the German football club Borussia Dortmund during an additional issue.
By the end of the year, Puma expects sales growth of approximately 1-3%, taking into account exchange rate differences.
Sales of the sports goods manufacturer Puma in the third quarter of 2014 increased by 6,4% compared to the same period in 2013 to 843 million ...
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