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Puma missed
25.10.2012 2283

Puma missed

The quarterly results of the German manufacturer of sports equipment Puma were below expectations due to the slowdown in the economies of Europe and China, as well as restructuring costs.

Sales of the company, whose shoes are worn by the famous sprinter Usain Bolt and football player Cesc Fabregas, in the third quarter grew to 892,2 million euros ($ 1,16 billion). Net income fell by 85 percent to 12,2 million euros, given the restructuring costs of 80 million euros.

Analysts on average expected sales to amount to 906 million euros and net profit to 36,4 million.

The slowdown in consumer spending in Europe has already led to the fact that a warning about a possible decline in indicators was issued immediately by a number of companies - from car manufacturers to manufacturers of luxury bags and food retailers.

Puma in the summer already warned that the profit for the 2012 year could be significantly lower than last year due to poor performance in Europe, retailer.ru reports.

The quarterly results of the German manufacturer of sports equipment Puma were below expectations due to the slowdown in the economies of Europe and China, as well as restructuring costs. Sales of a company whose ...
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