Puma exceeds targets despite a “challenging year”
German athletic footwear and apparel brand Puma has reported improved financial results for 2007 despite facing economic challenges, and remains positive for the outlook this year.
Currency-adjusted global brand sales grew more than 3% to reach €2.7 billion, while due to the weakness of currencies such as the US dollar, brand sales in euros fell slightly. Footwear sales climbed 1.9% on a comparable basis to reach €1,477.9 million.
In terms of regional performances, footwear sales increased 5.6% in the EMEA region and by a currency-adjusted 11.3% in the Asia-Pacific region; however these gains were partially offset by a 5.7% fall in the USA.
Jochen Zeitz, chief executive stated: "Although Puma faced a challenging year, we did not only meet most of our expectations in 2007, but even exceeded them in many points. Puma had an excellent and successful start into the extraordinary sports year 2008 by winning the African Cup of Nations through Egypt's win, securing a strong brand visibility on the pitch as the leading equipment supplier. We are determined to make use of all opportunities and chances that offer further growth and we will continue to invest and to strengthen the brand's as well as the company's desirability in the long run."
