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Puma releases preliminary results for the Q2

In light of the German footwear manufacturer’s successful product launches with high sell-throughs and strong growth across all regions, especially in North America, Puma’s currency-adjusted sales increased by approximately 96% to €1,589 million (Q2 2020: €831 million) and the operating result (EBIT) increased to approximately €109 million (Q2 2020: -€115 million) in the second quarter of 2021.

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Strong sales growth for Puma in first quarter

Sales of the Germany headquartered international sportswear brand increased 15.3% on a currency-adjusted basis to €1,319 million (+16.6% reported), driven by continued growth in all regions and product divisions.

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Kering to spin off Puma

The Board of Directors of the French luxury conglomerate unanimously proposed on January 11 to submit to its shareholders the project to distribute in kind around 70% of Puma shares, out of the 86.3% currently owned by the Group.

 

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Speculation grows over Puma’s sale

As François-Henri Pinault, CEO and Chairman of French luxury conglomerate Kering, stepped down from his role as Vice-Chairman of Puma’s Board of Directors on April 12, as speculation rises once again regarding the possible sale of the sportswear brand.

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Kering not planning to sell the Puma brand

Francois-Henri Pinault, the CEO of Puma’s parent Kering, ruled out a sale of Puma in an interview with Bloomberg Television earlier this week. Press rumours stated that the sports brand was up for sale by Kering which is mainly focussed in the luxury sector.

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