PUMA Q2 Financial Results Align with Expectations

PUMA has announced its Q2 financial results for 2024, meeting expectations despite challenging macroeconomic conditions. Sales increased by 2.1% to €2,117 million when adjusted for currency impacts. The gross profit margin improved by 200 basis points to 46.8%, despite currency fluctuations negatively affecting overall sales by approximately €50 million.

Operating expenses rose by 4.3% to €879 million, while the operating result (EBIT) grew by 1.6% to €117 million. The company reaffirmed its full-year sales growth outlook at a mid-single-digit percentage rate and narrowed its EBIT forecast to a range of €620 million to €670 million.

Regionally, PUMA saw a 9% sales increase in the Americas and a 1.9% rise in the Asia/Pacific region. However, sales in the EMEA region declined by 4.3%. Despite these challenges, PUMA's direct-to-consumer (DTC) business grew by 19.5%.

PUMA continues to focus on brand visibility and product innovation, with significant launches planned for the second half of 2024, including new football and running shoes and collaborations with high-profile designers.