PPR SA, parent of Gucci and Puma, reported that sales for Puma AG slid 3.3% in the first quarter to 697 million ($902.6 million) on a comparable basis. Sales in the Americas jumped 11.2%, boosted by “good performance footwear in the U.S. market.” Sales in Asia-Pacific were down slightly. By product category, the company said footwear and accessories showed strength while apparel sales were down — particularly in the EMEA region.
Puma's sales in the Europe and the broader EMEA region fell from an exceptionally high 2008 first quarter that benefited from a year with numerous major sporting events, including the Beijing Olympic Games and the Euro 2008 soccer championships.
This comes on the heels of a fiscal 2008 year that saw group sales for Puma AG up 8.5% on a currency-adjusted basis due to strong sales from all regions, including a low-teens jump in sales to the Asia/Pacific region. During the fourth quarter of 2008, heavy discounting in U.S., Europe and Asia inflated year-end and quarterly group sales numbers by 11.3% for the period.
