Puma sales rise but warns of “negative impact” from lockdown

Puma Bjørn Gulden trading update
For the full year 2021, Puma expects at least a moderate increase in sales in constant currency
// Puma sales rise in fourth quarter of 2020
// Sales rose across Asia/Pacific and EMEA
// All product divisions contributed to the growth

Puma has witnessed a sales rise of 9.1 per cent during the fourth quarter of 2020 thanks to “positive development”.

The sales rise was primarily led by an 11.8 per cent sales increase in Asia/Pacific thanks to Greater China.

Meanwhile, sales rose by 9.8 per cent in EMEA, despite Covid-19-related lockdown measures in Europe as of November.


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In addition, sales in the Americas rose by 6.1 per cent with growth across North and Latin America.

“We grew our sales in the fourth quarter despite lockdown measures. This together with our strong performance in the third quarter, where our sales grew 13 per cent, underlines the strength of both Puma and the whole sports industry, and makes me look positively to the future,” Puma chief executive Bjørn Gulden said.

“We do expect the negative impact to continue through the first and parts of the second quarter, but expect to see an improvement in the second half of the year. I am convinced that 2021 will be a better year for us than 2020.”

All product divisions also contributed to the growth. Apparel grew 15.7 per cent, accessories were up 7.3 per cent, mainly due to a strong golf, leg and bodywear business, while footwear increased 3.8 per cent.

Puma’s wholesale business increased by 4.6 per cent, while the direct to consumer business (DTC), which includes owned and operated retail stores as well as ecommerce, increased by 19.3 per cent – driven by a 57.2 per cent growth in ecommerce.

For the full year 2021, Puma expects at least a moderate increase in sales in constant currency and significant improvement in operating result and net earnings compared to 2020.

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