×
488
Fashion Jobs
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales -Koppal And Gadag
Permanent · Koppal
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales -Gadwal
Permanent · Gadwal
URBAN AVENUES LLP
Immediate Joiner in Real Estate Sales Executive/ Sales Manager
Permanent · Noida
OPPO
Area Sales Manager _Asm up East
Permanent · Jhansi
OPPO
Area Sales Manager _Asm up East
Permanent · Jhansi
INDIA SHELTER FINANCE CORPORATION LIMITED
Area Branch Manager
Permanent · Chennai
JOB INDIA
Area Sales Manager- Operations (Garment Retails)
Permanent · Gurugram
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Merchandising Manager/Quality Manager - Garments Manufacturing Company
Permanent · Bhiwandi
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Officer Hrbp / Business HR For Garment/Textile/Apparel Industry
Permanent · Bengaluru
AAVAS FINANCIERS LIMITED
Area Sales Manager | Home Loan | Mumbai
Permanent · Bengaluru
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales - Rajahmundry
Permanent · Rajahmundry
ZYDUS WELLNESS
Zydus Wellness - Factory Manager - Sikkim Plant
Permanent · Atlanta
ANUSHÉ PIRANI
Social Media & Fashion Communications
Permanent · MUMBAI
HARSH CLEAN DHAN PVT. LTD
Area Sales Manager (Modern Trade Sales) For North East
Permanent · Guwahati
RANDSTAD INDIA PVT LTD
Area Sales Manager (Consumer Durable Industry)
Permanent · Mumbai
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
SOSYO HAJOORI BEVERAGES PRIVATE LIMITED
Area Sales Manager
Permanent · Mumbai
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Ahmedabad
HERITAGE FOODS INDIA
Area Sales Manager(Hyderabad & Vijayawada) @ Hfl
Permanent · Hyderabad
NASH INDUSTRIES (I) PVT. LTD.
Production Manager Position With Nash Industries-Pune
Permanent · Pune
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager
Permanent · Noida
By
Reuters API
Published
Jul 31, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Puma raises full-year guidance after Man City and basketball boost

By
Reuters API
Published
Jul 31, 2019

German sportswear group Puma 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.


Puma



Puma shares, which have risen almost 40% in the past year, jumped 6.5% to a record high.
The company has a history of upgrading initially conservative forecasts and RBC analyst Piral Dadhania said the key question is whether Puma can beat its latest guidance.

Chief Executive Bjorn Gulden described Puma’s order book as solid for the third quarter and described the latest forecasts as “realistic, not conservative”.

Puma signed a strategic partnership with English soccer club Manchester City in February - taking over from rival Nike - as its deal with Arsenal ended. Gulden said sales of new kits launched this month were ahead of expectations.

The company, which returned to the basketball market late last year, noted that its sponsored player Danny Green had helped the Toronto Raptors to win their first NBA championship, while retro “Ralph Sampson” shoes have been selling well.

Puma has been growing faster than bigger rivals Adidas and market leader Nike, helped by savvy social media campaigns and partnerships with top athletes, soccer clubs and celebrities such as singer Selena Gomez and rap mogul Jay-Z.

Nike missed analysts’ estimates for quarterly profit in June as the world’s largest sportswear maker spent more on marketing, while Under Armour Inc aid on Tuesday that it now expects a slight decline in North American revenue in 2019.

Puma’s second-quarter sales rose by a currency-adjusted 15.7% to 1.23 billion euros ($1.37 billion), while operating profit rose 39% to 80.3 million euros, both beating average analyst forecasts.

CHINA PLANS

Sales rose 22% in Asia/Pacific and a better than expected 20% in the Americas, helped by the basketball launch and sales of white Cali sneakers promoted by Gomez.

Gulden said he saw no signs of a slowdown of the sporting goods market in China, which he said could rival the United States as the biggest market within five years.

Puma’s inventories were up 19.4%, about 5-7% of which was attributed to preparations for the possible imposition of U.S. tariffs on goods produced in China.

Puma has been moving production out of China to countries such as Vietnam, cutting the proportion of products produced in China for the U.S. market to less than 25% from more than 50% five years ago.

“Should the duties come, I am convinced prices will go up because you cannot move all production out of China,” Gulden told reporters on a conference call.

Puma lifed its full-year currency-adjusted sales growth forecast to about 13% from 10% and predicted operating profit of between 410 million and 430 million euros, up from 395 million to 415 million euros.


 

© Thomson Reuters 2021 All rights reserved.