Another record sales quarter for Puma

Worldwide
Published:  28 October, 2022
Credit: Puma

Puma has reported another record sales result for the third quarter of the 2022 financial year.

The footwear brand saw sales increase by 16.9% to €2.35 billion in the period, which represents the highest quarterly sales in the company’s history.

Sales growth in the Americas was 18.8% for the quarter, while sales in EMEA were up by 18.5% and the increase in the Asia/Pacific region was 9.8%, its first growth in 2022.

Footwear products reported sales up by 33.2% while Apparel grew by 9.9%. Sales in Accessories were down by 10.2%, which the company attributed to softer leg and bodywear business, especially in North America.

Wholesale business in the third quarter of the year was up by 19.9% to €1.86 billion, while direct-to-consumer increased by 6.5% to €489.7 million. Sales in Puma owned and operated retail stores increased by 4.2% and e-commerce increased by 11.8%.

Gross profit margin for Puma in Q3 dropped by 60 basis points to 46.8%, mainly caused by higher sourcing prices due to raw materials and freight rates as well as an unfavourable channel, the company said. Net earnings in the period were up by 1.8% year-on-year to €146.4 million.

Looking forward to the full 2022 results, Puma is confident in expecting sales growth in the mid-teens despite an uncertain macroeconomic environment.