Sales for the international sportswear Group, Puma, increased 17% in the third quarter of 2019, currency adjusted to €1,477.6 million (+19% reported), with the Asia/Pacific and Americas regions continuing to contribute with double-digit increases, as reported by ILM.
In the first nine months of 2019, Puma’s sales increased 16% currency adjusted to €4,024 million (+17.6% reported) and gross profit margin was up by 60 basis points at 49.4%. Net earnings increased 39% from €176 million in the third quarter of 2018 to €245 million, while earnings per share increased from €1.18 to €1.64 correspondingly.
“The third quarter developed very positively for us and ended as the best quarter that Puma has ever achieved, both in terms of revenue and EBIT”, said Bjorn Gulden, CEO, Puma. “Especially positive for me was the 17% growth in footwear, which shows the strong performance of the new styles, and EMEA’s growth of almost 10%, proving a recovery in Europe”, he added, highlighting that the fourth quarter will be the first quarter where the U.S. tariffs on China will have an impact.