German sportswear company Puma raises FY21 outlook backed by strong Q2

With strong second-quarter (Q2) growth in sales and considering continued uncertainties related to the Covid-19, political tensions in key markets and supply chain constraints due to container shortages and port congestion, the German sportswear firm Puma has raised its FY21 sales outlook by at least 20 per cent against previous forecast of around mid-teens.

 

With strong second-quarter (Q2) growth in sales and considering continued uncertainties related to the Covid-19, political tensions in key markets and supply chain constraints due to container shortages and port congestion, the German sportswear firm Puma has raised its FY21 sales outlook by at least 20 per cent against previous forecast of around mid-teens.#

Based on continued brand momentum, successful product launches with high sell-throughs and strong growth across all regions, especially North America, Puma’s currency-adjusted sales increased approximately 96 per cent in Q2 of FY21 to €1,589 million (Q2 FY20: €831 million), according to the company’s preliminary report.

 

With strong second-quarter (Q2) growth in sales and considering continued uncertainties related to the Covid-19, political tensions in key markets and supply chain constraints due to container shortages and port congestion, the German sportswear firm Puma has raised its FY21 sales outlook by at least 20 per cent against previous forecast of around mid-teens.#

Puma also expects operating result (EBIT) to improve during Q2 FY21 to around €109 million (loss: €115 million), whereas for FY21 EBIT is being anticipated between €400 million to €500 million which is a significant improvement from previous outlook, the apparel and footwear manufacturer added. The company also expects significant improvements in net earnings for the current fiscal.

 

With strong second-quarter (Q2) growth in sales and considering continued uncertainties related to the Covid-19, political tensions in key markets and supply chain constraints due to container shortages and port congestion, the German sportswear firm Puma has raised its FY21 sales outlook by at least 20 per cent against previous forecast of around mid-teens.#

“The achievement of our outlook is subject to continued manufacturing operations in our key sourcing countries such as Vietnam and China and no major interruptions due to Covid-19,” the report noted.