22 Apr Puma’s Sales Climb 3 Percent in Q1
Puma’s sales rose 3. 1 percent in the first quarter, to €855.9 million from €825 million and advanced 8.1 percent on a currency-neutral basis, according to the quarterly report by its parent, Kering Inc.
In its statement, Kering said Puma saw growth across all categories. On a currency-neutral basis, footwear was ahead 10 percent, apparel grew 7 percent, and accessories gained 6 percent. Kering indicated Puma saw a “very successful” launch of the Fenty Trainer by Rihanna while also benefiting from “generally good momentum in women.”
Kering added noted that Puma saw growth across all regions, with the best performance in the APAC, supported by China and solid trends in Western Europe. Puma remains on-track to deliver high single-digit currency-adjusted revenue growth in 2016.
In its Other Sport & Lifestyle brands, including Volcom, Electric and Cobra, sales were down 12.0 percent to €57.2 from €65.0 million and gave back 7.1 percent on a currency-neutral basis. Kering said Volcom saw a decline in line with its Q4 results “related to weakness of some specialized Action Sports retailers.”
Volcom also on March 16 announced that it had sold the Electric brand via a management buy-out (MBO) to a group led by Eric Crane, Electric’s CEO.
Combined, sales of Kering’s Sport & Lifestyle segment advanced 2.6 percent to €913.1 million from €890.0 million and gained 7.0 percent on a currency-neutral basis. On a currency-neutral basis, sales grew 11 percent for the Sport & Lifestyle segment in the Asia Pacific, 9 percent in Western Europe, 1 percent in North America, 8 percent in Japan, and 7 percent in the Rest of the world.