PUMA Reports Accelerated Sales Growth in Q3 2024

PUMA's sales growth accelerated in the third quarter of 2024, with currency-adjusted sales increasing by 5.0%, reaching €2,308 million. This growth was bolstered across the Americas, Asia/Pacific, and EMEA regions. Notably, the Americas saw an 11.4% rise in sales, while Asia/Pacific and EMEA registered moderate growth. Despite positive sales figures, currency fluctuations negatively impacted reported sales in euro terms by approximately €100 million.

The company's gross profit margin improved by 80 basis points to 47.9%. Operating expenses rose slightly, by 1.1%, amounting to €873 million. The operating result (EBIT) edged up 0.3% to €237 million, aligning with PUMA's fiscal outlook for 2024.

Direct-to-Consumer (DTC) business showed a robust performance, growing by 17.0%, fueled by increases in both e-commerce and retail sales. However, PUMA's net income for the quarter dipped by 3.0% to €127.8 million due to a higher attribution to non-controlling interests. Looking ahead, the company maintains a positive outlook for the remainder of the year.