Puma reports strong rebound in Americas and Europe

Sales jumped 20.7% in the Americas and 17.7% in the Europe, Middle East and Africa region

  
The logo of German sports goods firm Puma is seen at the entrance of one of its stores in Vienna, Austria, March 18, 2016.

The logo of German sports goods firm Puma is seen at the entrance of one of its stores in Vienna, Austria, March 18, 2016.

REUTERS/Leonhard Foeger

BERLIN - German sportswear company Puma reported a strong rebound in third-quarter sales in the Americas and Europe as stores reopened after coronavirus lockdowns and online sales boomed, helped by people exercising more during the pandemic.

Puma said sales rose by a currency-adjusted 13% to 1.58 billion euros ($1.87 billion) and operating profit by 17% to 190 million euros, beating average analyst forecasts for 1.56 billion and 174 million euros respectively.

Sales jumped 20.7% in the Americas and 17.7% in the Europe, Middle East and Africa region, with categories such as basketball, motorsport, golf and team sports showing the highest growth rates.

However, Puma noted that consumer sentiment was turning negative again as coronavirus infections rise and said it could not provide a reliable outlook for the full year despite its optimism on medium and long-term perspectives.

Nike Inc, the world's largest sports athletic shoe manufacturer, last month reported quarterly profit and revenue ahead of Wall Street estimates.

($1 = 0.8461 euros)

(Reporting by Emma Thomasson Editing by David Goodman) ((+4930220133580; Reuters Messaging: emma.thomasson.thomsonreuters.com@reuters.net))

More From Business