Puma has announced that they enjoyed a record-breaking first quarter exceeding both sales and profit goals for 2019. Attributing to this growth are partnerships with the likes of Jay-Z, Rihanna and the late Nipsey Hussle. Puma continues to move into an area currently enjoyed by big names such as Nike and adidas.
Puma’s first-quarter sales grew 15.3 per cent to €1.32 billion ($1.47 billion), as compared to an analyst consensus for €1.3 billion. Operating profits were €143 million in comparison to a forecast of €139 million.
Notable Quotes: “The first quarter of 2019 was the best quarter Puma has ever seen, even if we have nine more months to go and despite a lot of uncertainty in the market, we feel comfortable that we will achieve our guidance for the full year.” – Puma Chief Executive Bjorn Gulden