The German sports brand Puma clearly has the wind in its sails. The company closed the third quarter with much more profit on higher sales. CEO Bjørn Gulden even spoke of the best quarter ever for Puma, but at the same time warned that the trade war between China and the US will be felt for the first time in the current quarter.
Puma closed the period with a turnover of almost 1.5 billion euros. That meant an increase of 19 percent on an annual basis. At 100.5 million euros, the profit was almost 30 percent higher. There was strong growth, especially in South and North America and in the Asia / Oceania region.
According to Gulden, the import tariffs set by the US will have an effect for the first time on the results of Puma, which recently opened a flagship store on Fifth Avenue in New York. According to De Puma boss, the rates put pressure on the operating result in the short term.
Puma expects sales growth of around 15 percent for the entire year and an operating result of between EUR 420 million and EUR 430 million. This makes Puma a little more positive than with an earlier estimate.