PUMA increases first quarter sales
Sporting goods producer PUMA has announced a 20 per cent growth in its first quarter revenue. The company attributes this increase in sales for the period – to a total of EUR 1.9 billion (USD 2 billion/GBP 1.6 billion) – as a result of investments in innovation and marketing.
The strongest sales growth (44 per cent) was reported in the Americas. This is said to have been driven by high demand for PUMA products in the North American and Latin American markets. Sales in Europe also rose – by 25 per cent – although revenue from Asia-Pacific sales dropped by 17 per cent, a situation which was apparently due to Greater China’s market environment.
“The demand for our products was high, both from retailers and consumers,” commented chief executive, Bjorn Gulden, “and our operations people were able to move enough product through a tight supply chain to partly fulfil this increasing demand.”
This article was originally published on page 4 of the May 2022 issue of SATRA Bulletin.