Kering reported revenues in its Sport & Lifestyle segment grew 15.9 percent on a currency-neutral basis as a 17.3 percent jump at Puma offset a decline at Volcom.
Puma reported its results earlier separately.
On a reported basis, sales in the Sport & Lifestyle segment increased 11.9 percent to €1.19 billion.Kering said in its statement, Puma delivered another excellent performance for the quarter, with double-digit growth on a comparable basis across all key regions. Revenue for the brand rose by 13.2 percent as reported and by 17.3 percent on a comparable basis to €1,125.7 million. The brand also fared well in all distribution channels, with robust growth across all product categories, notably Shoes (23.2 percent on a comparable basis) and Accessories (23.8 percent on a comparable basis). Puma continued to launch new innovative product collections (such as the new Puma One collection), and recent products continued to meet with success over the quarter (Tsugi, Basket Heart, Ignite Limitless). The brand also recently announced its partnership with singer, actress and social media icon, Selena Gomez. Conversely, Volcom’s performance continued to be hampered by the challenges faced by specialist distributors in the US.”
