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Puma will reduce the range
27.07.2012 2272

Puma will reduce the range

As expected, the German company's net profit in the second quarter fell by 29%. In this regard, Puma intends to reduce the number of sporting goods offered and close expensive sponsorship deals.

The company's net profit for April-June amounted to 26,7 million euros. Global quarterly sales were 752,9 million euros, with sales in Europe, which accounted for half of Puma's sales, by 3%. The decline in demand in Europe in the company is associated with the debt crisis, which causes an increase in unemployment among young people, the main buyers of sports goods, says fashionunited.ru.

In addition, Puma announced that COO Klaus Bauer and marketing manager Antonio Bertone will leave the company at the end of the year.

As expected, the German company's second-quarter net profit fell 29%. In this regard, Puma intends to reduce the number of offered sporting goods and to close expensive sponsorship ...
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