×
6 366
Fashion Jobs
TK MAXX
10933-Loss Prevention/Securityofficer
Permanent · Nottingham
TJX EUROPE
IT Engineering Manager
Permanent · Watford
TJX EUROPE
tk Maxx Leicester - Loss Prevention Officer (Security) - Full Time 37.5hrs
Permanent · Leicester
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, New Street
Permanent · Birmingham
GILLY HICKS STORES
Gilly Hicks - Brand Representative, Arndale
Permanent · Manchester
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Midsummer Place
Permanent · Milton Keynes
HOLLISTER CO. STORES
Hollister CO. - Full Time Stock Lead Associate, Trafford
Permanent · Manchester
TAPESTRY
Coordinator, Store Operations & Communications
Permanent · London
COACH
Analyst, Wholesale Operations
Permanent · London
COTY
Senior National Account Manager
Permanent · London
FRASERS GROUP
Warehouse Training Instructor
Permanent · SHIREBROOK
FRASERS GROUP
Facilities Coordinator
Permanent · LONDON
REISS
Partner Marketing Executive
Permanent · LONDON
REISS
Digital Marketing Executive
Permanent · LONDON
HUGO BOSS UK LTD.
Finance Assistant - Accounts Payable
Permanent · LONDON
WAITROSE
Warehouse Partner
Permanent · AYLESFORD
WAITROSE
Warehouse Partner – Nights
Permanent · LONDON
HEAD OFFICE
Senior Commercial Manager – Point of Sale Credit
Permanent · LONDON
FRASERS GROUP
Marketing Executive - Premium
Permanent · LONDON
FRASERS GROUP
Office Manager
Permanent · LONDON
NAPAPIJIRI
Account Coordinator - German Speaking - Napapijri
Permanent · NOTTINGHAM
NEW LOOK
CRM Executive
Permanent · LONDON
Ads
Published
Apr 27, 2022
Reading time
2 minutes
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Puma races ahead in Q1, despite uncertain backdrop

Published
Apr 27, 2022

Sports giant Puma delivered a strong start to the year on Wednesday with better-than-expected Q1 results. This came on the back of high demand that more than offset the impact of supply chain issues and the hit it took from the Russia-Ukraine war.


Puma



Operating profit rose 27% to €196 million, which was well above the €181.5 million that analysts had expected. And net earnings improved by 11.2% to €121 million.

But the gross profit margin declined by 130 basis points to 47.2%, mainly caused by an unfavourable geographical and channel mix, as well as higher freight rates, while currencies had a slight positive effect.

Sales increased by 19.7% currency-adjusted (CA) to €1.912 billion and were up 23.5% on a reported basis. 

Wholesale increased by 23.3% (CA) to €1.528 billion and Direct-to-Consumer was up 7.1% to € 384 million. Sales in owned and operated retail stores increased 21.3% (CA) while e-commerce declined 13.2% as it continued to prioritise its retailers when supply was limited and due to the current market environment in Greater China.

CEO Bjorn Gulden said the figures “confirm our investments into innovation and marketing are paying off”.

That said, he added that such strong results would normally mean the firm raising its outlook for the year. But “given the increased uncertainty in the world, we have decided to stick to our initial outlook from the beginning of this year”.

BUSY QUARTER 

Q1 was a busy time for the brand as it collaborated with French label Ami, as well as releasing a special edition of LaMelo Ball's signature basketball shoe MB.01, and teaming up with Alfa Romeo F1 Team Orlen to equip China’s first F1 driver Zhou Guanyu and Valtteri Bottas with race gear. The firm also announced a new long-term partnership with the Italian Lega Serie A to start in the 2022/23 season, trialled garment-to-garment recycling in its circularity project RE:JERSEY (using old football kits to produce new ones), and launched the Future Instinct football boot with Neymar Jr.

Gulden said the firm overcame “all the obstacles and uncertainties” during the curter and saw high demand for its products, “both from retailers and consumers, and our operations people were able to move enough product through a tight supply chain to partly fulfil this increasing demand”.

He was also happy to see growth coming from all product divisions and all business units. 

Regionally, the company saw its strongest sales growth during Q1 in the Americas. CA sales rose 44.1%, “driven by continued high demand for the Puma brand in the North American and Latin American markets”.

Sales in EMEA were up 25.5%, “reflecting strong growth across all key markets in Europe”, but sales in Asia Pacific declined 17% due to issues in Greater China resulting from its zero-Covid policy.

And looking at categories, CA footwear sales were up 18.2%, apparel rose 16% and accessories stormed ahead by 32.2%.

The firm saw strong results in Running & Training, Teamsports, Golf and Basketball, as well as the Sportstyle category.

Copyright © 2023 FashionNetwork.com All rights reserved.