An increase in sales during Puma‘s third quarter has allowed the retailer and fashion brand to raise its full year guidance once again.
In its third quarterly update, to be released on October 24, the German company expects to see consolidated sales grow 13.3 per cent to €1.12 billion (£1 billion) compared to €990 million (£887.6 million) in the third quarter last year.
Puma’s EBIT is also to have increased to €101 million (£90.55 million) from €60 million.
As a result, Puma has raised its full-year guidance for the third consecutive quarter.
For the full-year, it now predicts EBIT of between €235 million and €245 million, when previously it had forecast €205 million to €215 million.
Its gross profit margin forecast has also increased to 46.5 per cent from 46 per cent and anticipates currency-adjusted sales growth of 14 per cent to 16 per cent – higher than its original 12 per cent to 14 per cent target.
In addition, Puma – which is majority-owned by French fashion empire Kering – expected a significant increase in net profit for 2017.