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Puma CEO Says We Might Have To Reconsider Guidance If Stores In China Still Closed In 4 Weeks
Puma 9-month Net Earnings Up 39% To EUR 245 Million
Kering Says Does Not Plan To Dispose Entirely of Puma Stake Now
PUMA SE is engaged in designing, developing, selling and marketing footwear, apparel and accessories. The Company's segments include Europe, Middle East and Africa (EMEA), Americas (North and Latin America) and Asia/Pacific. The Company offers performance, as well as sportstyle products across six business units: Teamsport, Running and Training, Golf, Motorsport, Fundamentals and Sportstyle, and Accessories and Licensing. The Company is engaged in the sale of products from the PUMA and COBRA Golf brands through the wholesale and retail trade, as well as from sales directly to consumers in its own retail stores and online stores. The Company markets and distributes its products across the world primarily through its own subsidiaries. The Company distributes its products in approximately 120 countries. For various product segments, such as fragrances, eyewear and watches, the Company issues licenses authorizing independent partners to design, develop and sell these products.
Puma Way 1
Chairman of the Supervisory Board
Chief Executive Officer, Member of the Management Board
Independent Deputy Chairman of the Supervisory Board
Chief Financial Officer, Member of the Management Board
Chief Sourcing Officer, Member of the Management Board
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German sportswear makers Adidas <ADSGn.DE> and Puma <PUMG.DE> have both warned that the coronavirus outbreak was hurting their business in China due to store closures and fewer Chinese tourists travelling and shopping in other markets.
* PUMA CEO SAYS MOST OF FACTORIES IN CHINA IN OPERATION, ALTHOUGH SOME IMPACT ON WORKER MOVEMENT
German sportswear group Puma <PUMG.DE> on Wednesday said it expected China's coronavirus outbreak to hit its sales and profits in the first quarter but it still hopes to reach its targets for 2020.
German sportswear group Puma <PUMG.DE> cautioned on Thursday that it would take a hit from U.S. tariffs on China in the fourth quarter but still raised its sales forecast and narrowed its profit target after a strong third quarter in all regions.
German sportswear group Puma raised sales and profit forecasts again on Thursday after a strong third quarter in all regions despite cautioning that it would take a hit from U.S. tariffs on China in the fourth quarter.
French luxury group Kering <PRTP.PA> moved to reduce its remaining stake in Puma <PUMG.DE> on Wednesday by issuing bonds that can be exchanged for shares in the German sportswear brand.
French luxury goods group Kering said it was launching an offer of bonds that could be exchanged for shares in Puma, in which Kering already holds a 15.7% equity stake, to the tune of 500 million euros ($549.8 million).
Indian sprinter Dutee Chand will get custom-made gear in her bid to qualify for next year's Tokyo Olympics after signing a two-year deal with Puma, the German sportswear company said on Thursday.
German sportswear group Puma <PUMG.DE> raised sales and profit forecasts on Wednesday after a strong second quarter, helped by a return to the U.S. basketball market and a deal with English Premier League champions Manchester City.
German sportswear group Puma <PUMG.DE> is carrying up to 7% extra inventory as it prepares for the possible imposition of U.S. tariffs on goods produced in China, and expects to have to raise prices, Chief Executive Bjorn Gulden said on Wednesday.
German sportswear group Puma raised its outlook for sales growth and operating profit for 2019 on Wednesday after a strong second quarter, powered by expansion in China, a return to U.S. basketball and sales of Manchester City shirts.
Puma has agreed a new long-term partnership with Pep Guardiola, the manager of English Premier League champions Manchester City, the German sportswear company said on Monday.
German sportswear group Puma said it managed to avoid supply chain problems that have crimped sales growth at local rival Adidas by increasing inventories, as it posted a record quarter of sales and earnings on Friday.
German sportswear group Puma reported another strong quarter of sales and earnings growth on Friday, driven by healthy demand in China and the Americas, after it reentered the basketball market.
Adidas has teamed up with singer Beyonce and will relaunch her Ivy Park brand, as it aims to attract more female consumers after rival Puma's deal with Rihanna helped boost sales.
Formula One has agreed a long-term deal with Puma for the German sportswear company to become the sport's exclusive merchandise retail partner, it said on Thursday.
Puma has signed a long-term strategic partnership with English Premier League champions Manchester City, taking over from Nike as it seeks to make up for the loss of Arsenal to German rival Adidas, the sportswear company said on Thursday.
(This February 21 story refiles to give full name of Porsche Design in headline.)
Sportswear group Puma gave a conservative forecast for 2019 on Thursday despite strong fourth-quarter sales helped by demand for its chunky RS-X shoes and Cali sneakers, sending its shares down more than 6 percent.
German sportswear firm Puma forecast another year of fast sales and profit growth on Thursday after it reported strong quarterly results helped by demand for its chunky RS-X shoes and Cali sneakers marketed by singer Selena Gomez.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.