German sportswear retailer Puma has published its preliminary results for the first quarter of 2017 and raised its guidance for the full-year.
In the first quarter of 2017, the company’s consolidated sales increased while currency adjusted by approximately 15 per cent to € 1,005 million compared to € 852 million in the first quarter last year.
The operating result (EBIT) in the first quarter also increased by approx. 70 per cent to € 70 million compared to first quarter of 2016 at € 41.3 million.
In light of the strong first-quarter increase in sales and profitability as well as the positive business outlook for the current year 2017, Puma has also raised its full-year guidance for its consolidated sales and operating result.
The retailer now expects that sales will increase currency adjusted at a low double-digit percentage rate (previous guidance: currency adjusted increase at a high single-digit percentage rate).
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The operating result is now anticipated to come in between € 185 million and € 200 million (previous guidance: between € 170 million and € 190 million). In line with the previous guidance, the management still expects that net earnings will improve significantly in 2017.
A complete overview of Puma’s business development for the first quarter 2017 will be published on April 25, 2017.
