26 Oct Puma’s Q3 Revenues Jump
Puma’s revenues grew 8.3 percent to €994.1 million and increased 8.3 percent on a currency-adjusted basis, according to the quarterly report from its parent, Kering.
Kering’s statement said Puma is benefiting from “innovative products and renewed appeal.” The footwear category for Puma “performed particularly well,” posting 17 percent growth, fueled by the success of new models such as Ignite, Fierce and Fenty. Apparel was up 10 percent for Puma.
With the exception of Japan, Puma achieved double-digit growth across all geographic regions with “strong performances in Europe and the Americas, and sustained expansion in Mainland China.”
The Puma segment also includes Cobra Puma Golf.
Kering’s overall Sport & Lifestyle segment’s sales were up 6.5 percent to €1.06 billion and gained 9.3 percent on a currency-neutral basis.
Its Other Sport & Lifestyle segment, which includes Volcom, was down 13.6 percent in the quarter to €70.3 million and off 7.7 percent on a currency-neutral basis. Kerking said Volcom “continued to be impacted by the challenges facing action sports retailers in the U.S.”
Kering last year sold Electric, the snow-goggles manufacturer, which it acquired via its 2011 purchase of skategear brand Volcom.
Kering owns an 86 percent stake in Puma. It also owns a number of luxury brands, including Gucci, Yves Saint Laurent and Bottega Veneta. Puma will report its full results on November 10, 2016.