• Home
  • Executive
  • Report
  • Puma to post strong recovery in Q2 sales and profit, raises FY21 outlook

Puma to post strong recovery in Q2 sales and profit, raises FY21 outlook

Report

Image: Puma media gallery
By Prachi Singh

Jul 16, 2021

According to preliminary report, Puma’s currency-adjusted sales increased by approximately 96 percent to 1,589 million euros and the operating result (EBIT) increased to approximately 109 million euros in the second quarter 2021.

The company said that the results were driven by continued brand momentum, successful product launches with high sell-throughs and strong growth across all regions, especially in North America.

In light of the strong second-quarter growth in sales and profitability but also taking into consideration the continued uncertainties related to the Covid-19 pandemic, political tensions in key markets and supply chain constraints due to container shortages and port congestion, Puma now expects the currency-adjusted sales to increase by at least 20 percent from previous outlook of mid-teens currency-adjusted sales growth in the financial year 2021.

The company added that operating result (EBIT) is now anticipated to come in between 400 million euros and 500 million euros from previous outlook of significant improvement and net earnings are still expected to improve significantly in 2021.