×
163
Fashion Jobs
L'OREAL GROUP
Executive - Sales - Matrix - Cochin
Permanent · Kochi
SUBIR SINHA
General Manager Production Manager
Permanent · Kanpur
RIVAARA LABS
we Are Area Sales Manager Like You to Join Our Sales Team
Permanent · Nashik
CAPITAL PLACEMENT SERVICES
sr.Manager Production Grinding Machines For Vadodara Gujarat
Permanent · Vadodara
L'OREAL GROUP
Area Sales Manager - South Bengal
Permanent · Kolkata
FUTURES AND CAREERS
Job Requirement For "Assistant Production Manager"
Permanent · Renigunta
KEWAL KIRAN CLOTHING LTD
Area Sales Manager (Channel Sales) Rajasthan, Jaipur
Permanent · Jaipur
FEDBANK FINANCIAL SERVICES LTD
Area Sales Manager- Doorstep Gold Loan(Chennai)
Permanent · Chennai
HERO HOUSING FINANCE LIMITED
Area Sales Manager
Permanent · Thane
PROJOBS
Manager Accounts - Garment Manufacturing (Cma)
Permanent · Coimbatore
HECTOR AND STREAK CONSULTING PVT LTD
Production Manager- Diagnostic Portfolio
Permanent · Mumbai
ELITE DECOR PVT LTD
Production Manager & Production Supervisor
Permanent · Vadodara
L'OREAL GROUP
Sales Executive - Professional Division - Bhopal
Permanent · Bhopal
L'OREAL GROUP
Executive - Sales Cpd - Bhatinda (n)
Permanent · Bathinda
L'OREAL GROUP
Sales Executive - Cpd - Bhatinda
Permanent · Bathinda
L'OREAL GROUP
Area Sales Manager, Cpd - Chandigarh
Permanent · Chandigarh
HEALTHKART
Area Sales Manager- Healthkart - Lucknow, Agra, Gwalior
Permanent · Lucknow
HALONIX TECHNOLOGIES PVT LTD
Area Sales Manager - Lighting Retail Sales (Rajkot)
Permanent · Rajkot
ELECTRONICA FINANCE LTD
Area Sales Manager - Bangalore Machinery Loan
Permanent · Bengaluru
NANDANI CREATION LTD
Production Manager
Permanent · Jaipur
ELECTRONICA FINANCE LTD
Area Sales Manager - Kolhapur Machinery Loan
Permanent · Kolhapur
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Ranchi
By
Reuters API
Published
Oct 6, 2020
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Puma shares dip as Kering sells 5.9% stake

By
Reuters API
Published
Oct 6, 2020

Shares in Puma fell 3.5% on Tuesday after French luxury group Kering said it had completed the sale of a 5.9% stake in the German sportswear company for approximately 656 million euros ($772 million).


Puma


Kering has increasingly focused on its high-margin luxury brands like Gucci, Saint Laurent and Balenciaga in recent years, spinning off 70% of Puma to its shareholders in 2018.

Puma struggled after it was bought by Kering for 5.3 billion euros in 2007, but it has enjoyed a revival in the last few years, helped by sponsorships of top soccer teams and partnerships with celebrities like Rihanna and Selena Gomez.

The sale reduces Kering's stake in Puma to 9.8% from a previous 15.7%. Kering, which had announced its plan to sell the stake on Tuesday, said the transaction corresponded to a selling price of 74.50 euros per share.

Puma's shares traded down 3.1% at 75.7 euros at 0728 GMT.

In July, Puma reported second-quarter sales fell a currency-adjusted 30.7% to 831 million euros and earnings before interest and taxes slumped to a loss of 114.8 million euros as coronavirus lockdowns closed most global sports stores.

However, sales have rebounded as stores have reopened and the pandemic has encouraged more people to take up exercising, with rival Nike posting better-than-expected results in September and giving a strong sales forecast.

The Nike results had helped Puma shares to return to levels last seen before coronavirus hit in March.

Puma's largest shareholder remains Artemis, the holding company for the Pinault family that founded and controls Kering, which has a stake of just under 29%.

© Thomson Reuters 2021 All rights reserved.