Puma sales up in first quarter

Worldwide
Published:  03 May, 2022
Credit: Puma

Sportwear brand Puma has reported its first quarter 2022 results with sales increasing by 19.7% to €1.91 billion.

The strongest sales growth for the company was in the Americas with an increase of 44.1%, while sales in EMEA were up 25.5% and fell by 17% in Asia/Pacific, primarily due to the Covid-19 situation in Greater China.

All products saw double-digit growth, with footwear up 18.2%, apparel increasing by 16% and accessories showing growth of 32.3%. Puma reported that growth was primarily driven by demand for performance and sportstyle categories.

Puma’s wholesale business recorded growth of 23.3% for the quarter, achieving sales of €1.53 billion, while direct-to-consumer increased by 7.1% to €384 million. Sales in owned and operated retail stores increased 21.3% while e-commerce declined 13.2%.

Despite a high level of uncertainty on a global basis, and continuing supply chain impacts from Covid-19, Puma has confirmed a forecasted currency-adjusted sales growth of at least 10% with upside potential.

Bjørn Gulden, CEO of Puma, said: “The demand for our products was high, both from retailers and consumers, and our operations people were able to move enough product through a tight supply chain to partly fulfil this increasing demand. I am very happy to see that the growth is coming from all product divisions and all business units.

“We have had the highest growth rates in the performance categories like Running, Football, Basketball and Golf, which confirms that our investments into innovation and marketing are paying off. Based on such a strong first quarter, we would normally raise our outlook for the full year. But given the increased uncertainty in the world, we have decided to stick to our initial outlook from the beginning of this year.”