Plus   Neg

Puma Q1 Profit Up 40.1%; Affirms FY19 Outlook - Quick Facts

German sportswear firm Puma SE (PMMAF.PK) reported Friday that its net earnings for the first quarter of 2019 increased 40.1 percent to 94.4 million from last year's 67.4 million euros. Earnings per share rose to 6.31 euros from 4.51 euros a year ago.

Operating result or EBIT increased 27 percent to 142.5 million euros from 112.2 million euros last year, due to a strong sales growth combined with a higher gross profit margin.

Sales for the quarter increased 16.6 percent to 1.32 billion euros from 1.13 billion euros a year ago. Currency-adjusted sales increased 15.3 percent, driven by continued growth in all regions and product divisions.

According to Puma, the revenue figure was the highest it has ever achieved in a quarter, while the EBIT figure was also the highest absolute EBIT it has ever achieved.

The company noted that the regions Asia/Pacific, driven by China, and the Americas contributed with double-digit sales growth, while sales in EMEA also increased solidly. In terms of divisions, Apparel was the main growth driver in the quarter, followed by Accessories and Footwear.

Looking ahead, Puma confirmed its guidance for fiscal 2019, which was provided on February 14, 2019.

The company affirmed its outlook for currency-adjusted sales to grow around 10 percent, and EBIT to be in a range between 395 million euros and 415 million euros. The company also continues to expect a significant improvement in net earnings for the year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...
Follow RTT