German apparel company Puma's Q1 FY21 sales grow 26% to €1.5 bn

Puma, a Germany-based manufacturer of athletic and casual footwear, apparel and accessories, has reported 25.8 per cent sales growth to €1.5 billion in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the sales of €1.3 billion in the same quarter previous fiscal. The company’s net earnings rose to €109 million (Q1 FY20: €36 million).

 

Puma, a Germany-based manufacturer of athletic and casual footwear, apparel and accessories, has reported 25.8 per cent sales growth to €1.5 billion in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the sales of €1.3 billion in the same quarter previous fiscal. The company's net earnings rose to €109 million (Q1 FY20: €36 million).#

“Despite the uncertainty about the longevity and impact of the COVID-19 pandemic, continued capacity issues and cost increases in global freight and a tense political situation between key regions that could have a negative impact on our industry, we feel confident that 2021 will be a better year than 2020. We believe that we should achieve a full-year sales growth in the midteens and that we will achieve a significantly better profitability compared to last year,” Bjørn Gulden, chief executive officer of Puma, said in a press release.

 

Puma, a Germany-based manufacturer of athletic and casual footwear, apparel and accessories, has reported 25.8 per cent sales growth to €1.5 billion in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the sales of €1.3 billion in the same quarter previous fiscal. The company's net earnings rose to €109 million (Q1 FY20: €36 million).#

Gross profit during Q1 FY21 rose 21.4 per cent to €750.9 million (€618.5 million), while operating result increased to €154.3 million (€71.2 million).

 

Puma, a Germany-based manufacturer of athletic and casual footwear, apparel and accessories, has reported 25.8 per cent sales growth to €1.5 billion in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the sales of €1.3 billion in the same quarter previous fiscal. The company's net earnings rose to €109 million (Q1 FY20: €36 million).#

Puma's sales in all the regions dropped during 2020. EMEA (Europe, the Middle East and Africa) sales fell 0.9 per cent to €1.9 billion (€2.0 billion). Americas sales dropped 8.7 per cent to €1.7 billion (€1.9 billion). Despite growth in Greater China, Asia/ Pacific sales were down 5.2 per cent to €1.4 billion (€1.5 million).

 

Puma, a Germany-based manufacturer of athletic and casual footwear, apparel and accessories, has reported 25.8 per cent sales growth to €1.5 billion in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the sales of €1.3 billion in the same quarter previous fiscal. The company's net earnings rose to €109 million (Q1 FY20: €36 million).#

The wholesale business during the reported period increased 24.3 per cent to €1.2 billion. Puma's direct to consumer business (DTC), which includes owned and operated retail stores as well as e-commerce, increased 31.3 per cent to €346.8 million.

 

Puma, a Germany-based manufacturer of athletic and casual footwear, apparel and accessories, has reported 25.8 per cent sales growth to €1.5 billion in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the sales of €1.3 billion in the same quarter previous fiscal. The company's net earnings rose to €109 million (Q1 FY20: €36 million).#

“We achieved double-digit growth in all regions and product divisions and continue to see strong global demand for our products, both from consumers and retailers,” Gulden said. “2021 will unfortunately be again a year with a lot of uncertainty which will make efficient operations and accurate planning difficult. Our objective continues to be manoeuvrings through this difficult time as well as possible in the short term without hindering the mid-term momentum of Puma. We will continue to invest in product and marketing, strengthen our relationships with our retail partners and do everything we can to please our consumers.”