Puma achieved € 670 sales and a gross profit margin at 53%, nevertheless the results didn’t live up to Puma’s expectations. The sales of the German sporting group, which include consolidated and license sales, reported € 753.4 million, a decline of 0.6% on a currency neutral basis. During the nine months period ending September, global brand sales increased 3.8% to € 2,137.4 million. Like-for-like, Footwear sales increased 1.5% to € 1,177.6 million, Apparel rose by 5.9% to € 759.2 million and Accessories improved by 10.1% to € 200.5 million.
The licensed business decreased with 1.1%, due to the announced expiration of the Korean license at year-end 2007. Another downer was caused due to the early shipments in June causing the sales going down with 0.5% currency adjusted totaling € 670.4 million in the third quarter.
The gross profit margin increased with 53% compared to 50.4% last year. For the nine months period gross profit margin was a favorable 52.5% compared to 51.4%. Footwear margin increased from 51.2% to 52.3%, Apparel margin from 51.2% to 52.5%, and Accessories stood with 53.9% almost flat on last year’s level.
In America the sales went down with 8.8% to € 166.7 million in the third quarter. During the nine months period sales declined by 4.7% to € 486.4 million, while the gross profit margin improved 290 basis points reaching 49.7%. Orders on hand end of September were down 8.4% to € 237.8 million. Puma expected the sales to go down in the 3rd quarter, due to the continuous moderating environment in the US mall-based business.
As for Asia/Pacific region, sales improved 7.1% to € 127.2 million 3rd quarer and by 8.6% to € 362.4 million year-to-date. The gross profit margin reached 50.7% versus 50.6% last year. Orders on hand were up 19.1% and totaled € 247.2 million.
Image Puma
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