Puma Q3 FY20 sales grow 7.2% to €1,583 mn

03 Nov '20

2 min read

Pic: Shutterstock

Puma, a Germany-based sports company, has announced its third quarter (Q3) financial result for fiscal 2020, ended on September 30. Sales for Q3 FY20 grew 7.2 per cent to €1,583.4 million compared to the sales of €1,477.6 million in the same period previous fiscal. Net earnings for the period rose 13.0 per cent to €113.6 million (Q3 FY19: €100.5 million).

“The third quarter developed much better than I expected. Retail stores reopened, sports events resumed, consumer confidence improved, and our sales increased week by week. I feel this strong performance confirms the strength of both Puma as a brand and the sporting goods industry in general,” Bjørn Gulden, chief executive officer of Puma, said in a press release.

Gross profit for the quarter was €745.0 million (€734.8 million). Operating result jumped 16.8 per cent to €189.5 million (€162.2 million). While, earnings before taxes (EBT) for Q3 FY20 was up 14.3 per cent to €171.9 million (€150.4 million).

Company’s sales in EMEA (Europe, the Middle East and Africa) increased 14.1 per cent to €664.1 million (€582.2 million). Americas sales grew 9.7 per cent to €546.8 million (€498.6 million). Asia/ Pacific sales were down 6.1 per cent to €372.5 million (€396.8 million).

Sales of footwear during Q3 FY20 rose 6.1 per cent to €700.5 million (€660.1 million). Apparel sales increased 3.8 per cent to €607.0 million (€584.9 million).

“We will continue to manoeuvre through this pandemic in the short-term without hindering Puma´s mid-term momentum. Investments in new partnerships with Neymar Jr and LaMelo Ball underline our belief in the strong future of our brand,” Gulden said.

Fibre2Fashion News Desk (JL)

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