Home / Knowledge / News / Apparel/Garments / Puma's net earnings expected to decline in H1
Puma's net earnings expected to decline in H1
18
Jul '12
Despite continuous sales growth throughout the first half of 2012 (H1 2012 sales up 8.8% in Euro terms), the Sportlifestyle company PUMA herewith informs that, due to a slow-down of PUMA’s business particularly in Europe, its consolidated EBIT and Net Earnings for the first half year of 2012 will come in approximately 11% and 13% respectively below those for the first half year of 2011.

The Management has therefore decided to speed up as well as significantly expand the scope of the company’s Transformation Program in order to streamline the cost bases and increase efficiencies in terms of organization, processes and systems. PUMA’s Management estimates that these actions will require one-time costs of up to approximately € 100 million, to be booked in the second half-year of 2012.

The Management therefore revises its previous guidance for PUMA’s 2012 net sales growth from a high-single digit to a mid-single digit rate and expects annual Net Earnings to decrease significantly from the € 230.1 million posted last year, impacted by the aforementioned one-off expense.

Further details of PUMA’s business performance during the second quarter and first half year of 2012 will be provided with the results announcement on 26 July 2012.

PUMA

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search