Puma shares rose just 1.3% for the week after another extraordinary report on fourth quarter and full-year 2002 sales and profits. The limited rise in price was due no doubt to the fact that the stock rose 91% last year and the benefit this last week was limited due to pre-announcement of its results.
Fiscal year 2002 sales jumped another 52.1%, growing from 598.1 million to 909.8 million. Without currency fluctuations, sales were up 54.8%. A breakdown of all group sales is featured below.
Company-owned retail business increased 107.3% to 74.6 million. Retail sales accounted for 8.2% (6.0% currency-adjusted) of consolidated sales.
Worldwide Puma brand sales, consisting of consolidated and licensed sales, saw significant improvement and increased by 36.4% to 1.38 billion. On a currency-neutral basis, worldwide branded sales increased 40.1% to 1.4 billion.
Footwear sales improved 44.8% to 812.3 million, apparel by 20.9% to 460.1 million and accessories by 53.2% to 107.6 million.
U.S. sales increased 61% to $179.3 million and 69.6% in the fourth quarter.
PUMG expects currency-adjusted sales to increase more than 20% for 2003. Income from royalty and commission should see single-digit growth.
