Puma forecasts strong rebound from end of second quarter
Published by linker 5
Posted on February 24, 2021

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by linker 5
Posted on February 24, 2021

BERLIN (Reuters) – German sportswear company Puma said on Wednesday it expects a heavy impact on its results from lockdowns to contain the coronavirus pandemic through the end of the second quarter, but said it sees strong improvements after that.
“We do expect the negative impact to continue through the first and parts of the second quarter, but expect to see an improvement in the second half of the year,” Chief Executive Bjorn Gulden said in a statement.
For the full year, it expects at least a moderate increase in sales in constant currency, with an upside potential, and a significant improvement compared with 2020 for both its operating and net profit.
Fourth-quarter sales rose by a currency-adjusted 9.1% to 1.52 billion euros ($1.85 billion) and operating profit by 14.6% to 63 million euros, meeting average analyst forecasts for 1.52 billion and 62 million euros respectively.
Puma said growth in the fourth quarter was driven by Greater China and its Europe, Middle East and Africa region, despite lockdowns in Europe, noting that about half of the stores selling its products in Europe are still closed today.
Rival Nike in December raised its full-year sales forecast after COVID-wary shoppers demanding outdoor sportswear drove its third consecutive surge in online sales.
($1 = 0.8226 euros)
(Reporting by Emma Thomasson; Editing by Maria Sheahan)