Falling footwear sales at Puma
Sporting goods manufacturer Puma AG has posted a 2.3% income rise for its third-quarter, despite a decline in footwear sales.
The company earned €89.1 million ($129.1 million) for the July to September quarter compared with €87.1 million for the same period last year.
Despite this, sales fell 4.1% to €670.4 million compared with €699.2 million in the prior-year quarter. The Americas region reported the greatest decline, with sales falling 8.8% to €166.7 million. US sales fell 9.7%.
The overall decline was led by a decline in footwear sales, which fell 6.9% to €376.3 million. Meanwhile, apparel sales increased by 8.7% to €246.3 million.