Despite supply chain issues, Puma outperforms quarterly predictions
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23 January 2022, Mumbai:
On Thursday, Puma, a German sportswear company, announced stronger-than-expected preliminary quarterly sales and core profit, as robust worldwide demand helped overcome the effects of the COVID-19 epidemic and supply chain restrictions.
Supply difficulties and production delays, according to Puma, would result in a product scarcity far into 2022. Last year, COVID-19 outbreaks forced factories in Vietnam, a key footwear supplier, to shut for months.
According to a Refinitiv poll, Puma's fourth-quarter sales increased a currency-adjusted 14 percent to 1.77 billion euros ($2.01 billion), above analysts' average expectation of 1.63 billion euros.
Puma's stock was up 1.8 percent at 0931 GMT, making it the second-best performer on Germany's blue-chip index. The firm said that quarterly earnings before interest and taxes (EBIT) increased to 65 million euros from 63 million euros in the same period of 2020, much above the average expert projection of 47 million euros.
Puma outperform competitors Adidas and Nike in 2021, with Adidas scheduled to release its numbers on March 9 and Nike reporting a 1% increase in global revenue in its fiscal second-quarter data in late December. On February 23, 2022, Puma will release its final full-year results.
On Thursday, Puma, a German sportswear company, announced stronger-than-expected preliminary quarterly sales and core profit, as robust worldwide demand helped overcome the effects of the COVID-19 epidemic and supply chain restrictions.
Supply difficulties and production delays, according to Puma, would result in a product scarcity far into 2022. Last year, COVID-19 outbreaks forced factories in Vietnam, a key footwear supplier, to shut for months.
According to a Refinitiv poll, Puma's fourth-quarter sales increased a currency-adjusted 14 percent to 1.77 billion euros ($2.01 billion), above analysts' average expectation of 1.63 billion euros. Puma's stock was up 1.8 percent at 0931 GMT, making it the second-best performer on Germany's blue-chip index.
The firm said that quarterly earnings before interest and taxes (EBIT) increased to 65 million euros from 63 million euros in the same period of 2020, much above the average expert projection of 47 million euros.
Puma outperform competitors Adidas and Nike in 2021, with Adidas scheduled to release its numbers on March 9 and Nike reporting a 1% increase in global revenue in its fiscal second-quarter data in late December. On February 23, 2022, Puma will release its final full-year results.
On Thursday, Puma, a German sportswear company, announced stronger-than-expected preliminary quarterly sales and core profit, as robust worldwide demand helped overcome the effects of the COVID-19 epidemic and supply chain restrictions.
Supply difficulties and production delays, according to Puma, would result in product scarcity far into 2022. Last year, COVID-19 outbreaks forced factories in Vietnam, a key footwear supplier, to shut for months.
According to a Refinitiv poll, Puma's fourth-quarter sales increased a currency-adjusted 14 percent to 1.77 billion euros ($2.01 billion), above analysts' average expectation of 1.63 billion euros. Puma's stock was up 1.8 percent at 0931 GMT, making it the second-best performer on Germany's blue-chip index.
The firm said that quarterly earnings before interest and taxes (EBIT) increased to 65 million euros from 63 million euros in the same period of 2020, much above the average expert projection of 47 million euros.
Puma outperform competitors Adidas and Nike in 2021, with Adidas scheduled to release its numbers on March 9 and Nike reporting a 1% increase in global revenue in its fiscal second-quarter data in late December. On February 23, 2022, Puma will release its final full-year results.
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