Puma second quarter sales rise 7%
Puma (Kering Group) reported second-quarter profit that topped analysts’ estimates as the German sneaker maker got a lift from Europe’s soccer championships and a focus on the women’s market.
Earnings before interest and tax rose to €12 million ($13 million), Puma said in a statement Wednesday. Analysts expected €10.6 million. Sales rose 7 percent to €827 million, compared with the €820 million consensus.
Chief executive officer Bjoern Gulden, three years into a turnaround effort, is balancing sports and style, pushing brash multicoloured soccer cleats and a partnership with sprinter Usain Bolt at the same time he’s promoting women’s designs marketed with singer Rihanna and celebrity Kylie Jenner.