Training shoes keep running relentlessly. In fact, in the third quarter of the year Puma sales went beyond analysts’ expectations, as they increased by 14% and reached 1,242 billion euros (+11% at fixed rates of exchange); Ebit went up by 28%, therefore reaching 130 million euros. Footwear and accessories have been rising slightly less, “just” in single figure. Bjørn Gulden, chief executive officer of Puma, commented: “At the end of the third quarter our achievements proved to be a little better than expected. Despite a very negative currency impact in Turkey and Argentina, the overall currency trend was softer, compared to the previous quarters. Although we are still facing remarkable changes as to product trends and consumers’ demand, we have been ready to take quick action and keep our business expanding”. In the first nine months of the year, Puma sales increased by 16,7% in terms of value, reaching 3,422 billion euros. All areas and product segments have driven the growing sales, which went up in double figures. Likewise, Under Armour is speeding up as well: in 2018 third quarter their turnover increased by 2%, therefore exceeding 1,4 billion dollars. Revenues coming from footwear sales, which have been running steadily, amounted to 285 million US dollars. The company, headquartered in Baltimore, upgraded their business forecast for the whole year, while expecting to augment their turnover by 3 to 4%; as for footwear, the brand expects sales to increase in single figure.
Training shoes keep running relentlessly: Puma grows and upgrades their forecast, Under Armour goes beyond expectations
