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Clothing & Shoes

Puma reports 9.1% sales rise in Q4

The bulk of the sales increase primarily came from the Asia/Pacific market which was less affected by Covid-19 restrictions over the period

Puma has reported a 9.1% sales increase in its financial results for the fourth quarter of 2020.

The bulk of the sales rise primarily came from the Asia/Pacific market which was less affected by Covid-19 restrictions over the period compared to the rest of the world.

Sales rose by 9.8% across the EMEA, despite lockdown restrictions in Europe impacting traditional retail.

Furthermore, sales in North and Latin America jumped by 6.1%.

The sports retailer’s wholesale business increased by 4.6%, with direct to consumer business rising by 14.9%, mainly driven by ecommerce growth.

Bjørn Gulden, CEO of Puma SE, said: “I am very happy that we managed to end a very difficult 2020 with – considering the circumstances – a good fourth quarter.

“This together with our strong performance in the third quarter, where our sales grew 13%, underlines the strength of both Puma and the whole sports industry, and makes me look positively to the future.”

He added: “We see that people around the world want to do more sports as soon as restrictions allow them to and we see that consumers have continued to buy new sneakers and sportswear also during the pandemic.”

 

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