// Puma’s quarterly sales up by 20%
// Operating profit at £33m
// Puma expects slowdown in sales for 2019
Puma has reported strong quarterly sales, which it attributed to the high demand for its chunky RS-X shoes and Cali trainers.
The sportswear retailer’s fourth quarter sales increased by 20 per cent to €1.226 billion (£1.076 billion), beating analyst consensus for €1.17 billion (£1.02 billion), while operating profit was €38 million (£33 million).
However, Puma also reported a conservative forecast as it expected a slowdown in sales growth for 2019.
It forecasted sales growth of about 10 per cent and operating profit of between €395 million (£346 million) and €415 million (£364 million).
Puma also confirmed an operating margin target of 10 per cent by 2021/22.
Last year the retailer forecasted sales growth of 10 per cent but changed its target throughout 2019.
Puma has experienced faster growth compared to rivals Adidas and Nike, which it attributed to social media campaigns and recent celebrity collaborations with Selena Gomez, Rihanna, and Jay Z.
The company’s quarterly sales climbed by 39 per cent in Asia, defying fears of demands in China.
Meanwhile, in the Americas, quarterly sales jumped 17 per cent thanks to Puma’s launch of basketball shoes.