PUMA Reports Increased Sales of €2.31 Billion EUR in Q3 2023
The company earned a 9.9% increase in sales in the EMEA region, while sales in the Americas climbed by 2.5%.
German sportswear brand PUMA has released its third-quarter financial report, revealing a 6% increase in its sales on a year-to-year basis. The company raked in €2.31 billion EUR in currency-adjusted terms in the three month period, landing just ahead of market expectations.
In tandem with the results, PUMA’s chief executive officer Arne Freundt said that “while the market continues to experience significant macroeconomic headwinds and 2023 remains a transition year, we outgrew the market.” He also noted that the company “once again demonstrated our sustained brand momentum and gained market share.”
In the third quarter, PUMA reported its highest sales in Europe, the Middle East and Africa (EMEA), hitting €1.02 billion EUR in the aforementioned regions with a 9.9% growth rate. PUMA also saw growth in the Asia Pacific region, where revenues climbed to 4.6%, in currency adjusted terms, to reach €435.9 million EUR.
Meanwhile, in the Americas, the brand saw a 2.5% increase in revenues to €854.6 million EUR, with currencies adjusted. However, in reported euro figures, PUMA saw an 8.3% drop in sales in the Americas due to macroeconomic headwinds.
Across categories, PUMA reported an 11.3% increase in footwear to €1.22 billion EUR, while its apparel division fell by 0.5% to €794.6 million EUR and its accessories sales declined by 4.2% to €301.6 million EUR. Further, the company’s operating profits dropped by 8.3% to €236.3 million EUR.
Notably, PUMA earned a 10.6% increase in currency adjusted terms over the first nine months of 2023. In the same period, the company charted €6.62 billion EUR in revenues.
See PUMA’s full Q3 2023 financial report here.
Elsewhere, Bernard Arnault secured control of LVMH for the next 30 years.
