Sales cross €6.8 billion for Puma in 2021

Worldwide
Published:  03 March, 2022
Credit: Puma

The sports and footwear brand has reported its fourth quarter and full 2021 financial results, with sales increasing by 31.7% for the full year to €6.81 billion.

Growth was led by a 53.9% increase in the Americas to €2.64 billion, exceeding €2 billion for the first time. Meanwhile, almost all countries in the EMEA region saw double-digit increases in sales and the Asia/Pacific region grew by 10.6%, led by India, Japan and Oceania.

For the fourth quarter alone, sales increased by 14.3% to €1.78 billion, led again by the Americas with growth of 31.3%. EMEA reported sales growth of 14.9%, driven by emerging markets such as Russia, South Africa and Turkey. However, sales in Asia/Pacific declined in the fourth quarter to 5.4% due to ongoing Covid-19 issues in Greater China.

All of the company’s product divisions grew by double digits in the fourth quarter, with footwear up 15.6%, apparel up 11.7% and accessories increasing by 17.4%.

The company reported that working closely with its supplies, who are mainly based in Asia, was key to ensuring its supply chain remained operational throughout 2021 despite multiple lockdowns and other Covid-19 related restrictions in key sourcing countries such as Vietnam, China and Bangladesh.

Looking forward to 2022’s results, Puma expects a continuing high level of uncertainty around Covid-19 restrictions as well as geopolitical tensions in key markets that will affect its supply chains.

Despite this, the company has forecast currency-adjusted sales growth of at least 10% in the 2022 financial year while operating result (EBIT) is expected to be in the range of €600-700 million.