Following The Second Quarter Positive Performance, Puma Raised Annual Operating Indicators.

(Puma) net profit in the second quarter increased by 59.8% to 49 million 700 thousand euros (equivalent to 55 million 400 thousand US dollars).

Sales grew by 15.7%, and 1 billion 230 million euros after currency adjustment.

As the performance of all sectors and regions showed a "healthy improvement", the German sportswear brand Puma raised its operating indicators throughout the year in the second quarter.

In a quarterly statement in July 31st (2019), Puma said that net income in 3 months surged 59.8% to 49 million 700 thousand euros ($55 million 400 thousand), compared with the net income of 31 million 100 thousand euro in the same period (2018).

At the same time, Puma continued to grow in its sales performance. In terms of currency adjustment, revenue increased by 15.7% (16.9% in the published period), reaching 1 billion 230 million euros. The growth rate of the Americas and the Asia Pacific region reached two digit growth, while Europe, the Middle East and Africa reached a single digit growth rate.

Apparel and footwear grew strongly in the second quarter, reaching 22.7% and 14.5% respectively, while the accessories section showed a 6.3% growth. Puma has experienced growth in different product categories, including sports, racing and golf.

In terms of sales channels and product mix, lower discount promotions and currency positive effects, group gross margin increased from 48.6% to 49.3%.

In addition, due to strong sales growth, improved gross margin and slight operating leverage, Puma's Earnings Before Interest and Tax, or pre tax profit, increased by 39.4% to 80 million 300 thousand euros from the 57 million 600 thousand euro (2018).

Puma executive director Bj rnGulden said: "new footwear sales are good, garment sales continue to be strong, clothing and footwear replenishment orders work well, and directly face the direct-to-consumer (consumer) business also has a good performance."

"Therefore, Puma has raised the outlook for the whole year, and its revenue will grow by about 13% based on fixed exchange rate, which is about 10% higher than its previous earnings index. The annual pre tax profit (EBIT) remained between 410 million euros and 430 million euros, up from 395 million euros to 415 million euros previously forecast. Company management predicted that net income in 2019 would be "significantly improved".