Puma is losing profits
12.11.2013 5741

Puma is losing profits

Puma's operating profit fell by 20%, in connection with which the German company lowered its annual forecast, and its new CEO warned that the company would not return to growth immediately.

Puma's operating profit before special payments amounted to 80 million euros (107 million dollars) in the third quarter compared to 81,6 million euros expected by analysts surveyed.

“I am convinced that although it will take some time, we will reorganize and return the panther to its former agility,” said director of the company Björn Gulden.

Earlier, Puma reported that net profit in 2013 year would be significantly lower than 70 million euros received a year ago, due to the costs of closing the development center in Vietnam and moving part of the staff from London to the company's headquarters in the German town of Herzogenaurai.

Puma's operating profit fell 20%, prompting the German company to cut its annual forecast and its new chief executive warned that the company will not return to growth ...

Latest News

Paul Andrew appointed creative director of Sergio Rossi

Paul Andrew has become the new creative director of the Italian luxury footwear brand and will present his first collection for Sergio Rossi in the Fall '25 season. Andrew will oversee all Sergio Rossi shoe lines, including men's...
24.07.2024 87

Vietnam increases exports of leather, shoes and bags

According to the Vietnam Association of Leather, Shoes and Bags (Lefaso), by the end of the year, the volume of exports of leather, shoes and bags from Vietnam could reach $26–$27 billion, writes...
24.07.2024 91

Fashion balance

Successful sales in customer stores of shoes from the CAPRICE SPRING/SUMMER 2024 collection became the key to a successful start of sales of the SPRING/SUMMER collection...
23.07.2024 519

LIMÉ opened a flagship in a mansion on Kuznetsky Most

The flagship store of Russian clothing retail LIMÉ opened on five floors of an old mansion built in 1903 on Kuznetsky Most Street in Moscow. The store occupied the space of the former Nike flagship. And even earlier in the 1940s. Here…
23.07.2024 516

Rendez-Vous launched cross-promotion with Ile de Beaute

Russian shoe retailer Rendez-Vous continues to launch cross-promotions with different companies from the retail sector. One of Rendez-Vous’s regular partners is the cosmetic chain “Ile de Beaute.” Two brands...
23.07.2024 519
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning