Puma's sales dropped 5.5 % to
€673.4 million ($1.005 bn) in the third quarter. At constant exchange rates, sales were down 9.8%. Sales in the Americas fell 11.4% due to a “difficult economic environment.”
According to a report from its parent, PPR, sales for Puma in Latin America declined mainly as a result of tightened customs and the slowdown of tourist activity. Sales in Asia-Pacific were down 8.3% despite the strong performance in China and India. Activity in Eastern Europe/Middle East/Africa continue to see “good momentum” while Western Europe recorded “another difficult quarter.”
In the nine months, Puma's revenues declined 5.9% on a comparable basis to €1,971.1 million ($2.9 bn) but rose 0.4% on an actual basis,
Puma AG is 70% owned by PPR, which also owns the Gucci brand and French retail chains. Overall, PPR's sales declined 7.6% due to weaker demand for furniture and luxury goods.
