Puma posts highest quarterly sales ever
Sportswear giant Puma topped €2022 billion in Q2 19 revenue. Sales rose in all regions except Greater China due to quarantine measures related to COVID-XNUMX, writes Worldfootwear.com.
“The second quarter was another great quarter for us. Adjusted for FX appreciation of 18% (about 26% reported) to €2 million, for the first time in PUMA's history, quarterly sales topped €002 billion. This highlights the high demand for our products, despite all the global obstacles and uncertainties! Our gross margin is, of course, under pressure at the moment and is down 2 bps to 100%, mainly due to unfavorable geographical and logistical aspects, higher freight rates. Despite rising costs, we will continue to focus on maintaining our price competitiveness and will prioritize sales growth and market share over short-term profitability,” commented Puma CEO Bjorn Gulden.
Results of the second quarter
In the second quarter of fiscal year 2022, Puma's sales grew by 18,4% (up 26% as reported) to €2 billion compared to the same period last year. Wholesale business grew by 002% (approximately) in this quarter, reaching 22,6 billion euros, while direct selling business (DTC) grew by 1,56% (approximately) to 5,5 million euros compared to the second quarter of 438,8 financial year.
The Americas region recorded "strong" sales growth (approximately 25,6%) driven by continued demand for the brand, while sales in the EMEA region rose by approximately 21,5% with "strong growth" in all key European markets. Asia-Pacific sales were down about 1,8% due to COVID-19-related lockdown measures in Greater China, despite good performance in other Asia-Pacific regions.
Gross margin for the quarter declined 100 basis points to 46,5% year-over-year. Operating result (EBIT) was 146,3 million euros, reflecting an increase of 34,4% compared to the second quarter of 2021, and the EBIT margin increased by 40 basis points to 7,3%.
Puma's net income rose from €48,7m in the second quarter of 2021 to €84,3m this quarter, with earnings per share for the period of €0,56 compared to €0,33 in the same period previous year.
First half results
In the first half of the year, sales increased by 19,0% (up 24,7% as reported), reaching 3,91 million euros, compared with the same half of the previous year.
Operating result (EBIT) increased by 30,1% compared to the same period last year to 342,4 million euros in the first half of the year. Net income for this period increased by 30,3% to €205,6 million compared to the first half of fiscal year 2021, while earnings per share increased from €1,06 in this period last year to €1,37 in the first half 2022.
Fiscal Year 2022 Forecast
“While the first half of the year was strong, we continue to face growing geopolitical and macroeconomic uncertainties and challenges. Continued COVID-19-related restrictions, especially in Asian markets, the crisis in Ukraine and persistently high inflation are negatively impacting consumer demand.
As such, for fiscal year 2022, Puma is raising its forecast from previously at least 10% currency-adjusted sales growth – with upside potential – to currency-adjusted average sales growth. EBIT is also expected to be between 600 and 700 million euros, with a corresponding improvement in net income.
Sportswear giant Puma topped €2022 billion in Q2 19 revenue. Sales rose in all regions except Greater China due to quarantine measures related to COVID-XNUMX -…
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Rendez-Vous has relaunched its wholesale business
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Spanish footwear brand JOSE SAENZ debuts at Euro Shoes
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Euro Shoes@CAF will be held in Almaty from March 10 to 12
Almaty is preparing for the opening of the main event of the fashion industry in Central Asia - the 35th international fashion exhibition CAF (Central Asia Fashion), which is already being held for the fourth season in cooperation with the largest Russian international shoe exhibition Euro Shoes.
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Every business owner imagines a cloudless future for their company something like this: high profits, ideal employees, loyal customers, competitors biting their elbows, and market conditions that are favorable specifically for their company. Want to get closer to your dreams? Turn them into goals, says fashion business management and development expert and regular SR contributor Maria Gerasimenko. And achieving any goals requires developing a strategy. Today, it is important to understand that strategy is vital for any business - from microenterprises to large holdings.
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Shoe factories in Russia are closing one after another
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Sales through marketplaces. Growth points and pitfalls
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Trade equipment in a modern shoe and accessories store
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How to differentiate yourself from competitors and earn more?
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What decorative items can be used as retail equipment to effectively present shoes and bags?
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Global footwear production down by 1,5 billion pairs in 2023
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How to set prices that will earn
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Sales of shoes and accessories: effective techniques for business rhetoric
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We form the salary of sellers: expert advice
“How do you charge your consultants for personal or general sales?” Is one of the most popular questions causing a lot of controversy and gossip on the online forums of retail business owners. Indeed, how to properly form the earnings of sellers? But what about bonuses, where to get a sales plan from, do employees allow them to buy goods at discounted stores? In search of truth, the Shoes Report turned to a dozen shoe retailers, but no company wanted to disclose its motivation system - the process of its development was too complicated and individual. Then we asked four business consultants, and finally became convinced that the topic of seller motivation is very complex, because even our experts could not come to a common opinion.
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There is nothing worse than meeting the buyer with the words “Hello, can I help you with something?”, Because the seller works in the store just to help. Criticizing this well-established pattern of communication with the buyer, Andrei Chirkarev, business coach for effective sales and the founder of the New Economy project, shares the technology of truly selling issues with readers of Shoes Report.
The whole truth about Bayer. Who is he and how to become one?
Bayer is no longer a new, but still a popular and sought-after profession. It’s fashionable to be a buyer. Buyers are at the origins of the emergence and development of trends. If the designer offers his vision of fashion in the season, then the buyer selects the most interesting commercial ideas. It is on buyers that the policy of sales of stores and what, in the end, the buyer will wear depends on. This profession is surrounded by a magical fleur, often associated with a lack of understanding of what exactly is the work of a buyer.
Fur, and not only: types of lining
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The best models of Czech shoes of the past
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Retail Arithmetic
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How to fire a worker without tears, scandal and trial
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