Puma loses profit due to strong dollar
Puma sports brand lowered its net profit expectations this year, due to a strong dollar that had a big impact on first-quarter earnings.
“The negative currency movements in the last few months, in particular the strong dollar, have affected gross margins and net income in the first quarter,” the brand, part of the French group Kering, said in a statement.
From January to March, operating profit fell by 36% to 37,5 million euros, net profit fell by 30% to 24,8 million euros.
In the 2015 year, Puma predicts that operating profit will range from 80 to 100 million euros, compared to 128 million euros last year. Net profit will also decrease. Trade is still expected to grow slightly, by approximately 5%.
Sports brand Puma has lowered its bottom line expectations this year, due to the strong dollar, which has heavily impacted the profits of the first ...
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Now the discount on the assortment is up to 65% of the retail price.
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The main international exhibition of footwear and accessories will be held in Moscow at the Expocentre from February 18 to 21. The exhibition will present collections of leading European brands, both well-known in our market and new names!
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Retail Arithmetic
Before you begin to solve specific problems, you need to find out how accurately all the leaders of your company understand the basic terminology of retail.
How to fire a worker without tears, scandal and trial
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