German sportswear company Puma reports a 19.7% increase in sales in the first quarter of FY22

Puma, one of the world’s leading sportswear brands, reported a 19.7% increase in sales to 1,912.2 million euros in the first quarter (Q1) of fiscal 2022. The result operating income increased to €196 million from €154.3 compared to the first quarter of the previous year.

Puma’s wholesale sales increased by 23.3% to 1,528.2 million euros and the direct-to-consumer business increased by 7.1% to 384 million euros.

The increase was led by strong sales in the United States with growth of 44.1% and sales in the Middle East and Africa (EMEA) increased by 25.5%. All product divisions experienced double-digit growth. Footwear increased by 18.2%, clothing by 16% and accessories sales reached 32.2%. Growth was driven by strong demand for the company’s performance categories like running and training, team sports, golf and basketball, and the sportstyle category.

Sales of the German brand Puma increased by 19.7% to 1,912.2 million euros in the first quarter (Q1) of the financial year 2022. The operating result increased to 196 million euros against €154.3 in the first quarter of the previous year. Puma’s wholesale sales increased 23.3% to €1,528.2 million and direct-to-consumer business increased 7.1% to €384.0 million.

“We had the highest growth rates in performance categories such as running, football, basketball and golf, confirming that our investments in innovation and marketing are paying off. “, Bjorn Gulden, CEO of Puma said in a statement.

Gross profit margin fell to 47.2% and net profit increased from 109.2 million euros to 121.4 million euros in the first quarter of 2022.

“Based on such a strong first quarter, we would normally raise our outlook for the full year. The COVID-19 outbreak in China, the crisis in Ukraine, a very tight freight situation and pressures Inflationary pressures are all uncertainties that require us to remain very flexible and manage our business as best we can in the short term without hampering PUMA’s medium-term momentum going forward.We are seeing further upside on the revenue side, but also increased pressure on our OPEX and gross margin due to all the uncertainties,” Gulden added.

Puma expects operating income of between 600 and 700 million euros and sales growth of at least 10% in the 2022 financial year.

Fibre2Fashion News Office (HO)

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