Puma’s third-quarter net profit rose 24.7% but footwear growth slowed

On October 26th, Puma released its third quarter earnings report for 2018. In the three months ended September 30, global sales increased 14% year-on-year to 1.24 billion euros, and net profit surged 24.7% to 7750. Ten thousand euros.

In terms of categories, in the third quarter, sales of PUMA footwear and accessories increased by single digits. Among them, the growth rate of footwear made his CEO more worried than Jon Gulden, who thought that the sneakers had some Slowing down, and this trend will continue into the first quarter of 2019, and expects the heat in the footwear sector to pick up again.

Not enough sales of its clothing category increased by 27%. The increase in apparel in the European market is particularly obvious, which can alleviate the dilemma of slowing footwear growth to a certain extent.

In addition, looking back to the first two quarters, Puma scores can be described as “superior students”, so Puma decided to raise the full-year performance expectations, sales are expected to increase by 14% to 16%, operating profit will reach 235 million to 245 million euros. .