Puma SE reported that Q1 sales sales increased by 14.4 percent currency-adjusted (ca) to €2.19 billion (+14.4 percent reported). The EMEA region recorded strong sales growth of 25.4 percent (ca) to €883.8 million, and Asia/Pacific grew 27.4 percent (ca) to €476.0 million, supported by a return to growth in Greater China for the first time in two years. Sales in the Americas came in at €827.9 million (-0.8 percent ca) due to a decline in North America, while Latin America continued to show strong growth.
Net income decreased by 3.4 percent to €117.3 million (Q1 2022: €121.4 million) at a lower rate than EBIT due to improved financial results and lower non-controlling interests. The earnings per share amounted to €0.78 (Q1 2022: €0.81).
Puma confirmed its earnings and sales guidance for the year but warned that second-quarter growth would slow to low to mid-single-digit sales growth due to high inventory levels and ongoing macroeconomic pressures.
For more background and details on Puma’s Q1 results, including issues with North America inventories and pricing pressure, get inside company management’s call with analysts and media at SGB Executive here:
EXEC: Puma N.A. Business To Undergo “Transition” Year Amid Off-Price Excess
Photo courtesy Puma
