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PUMA SE: PUMA's First Half Results in line with Guidance (news with additional features)
DGAP-News: PUMA SE / Key word(s): Half Year Results/Change of
Personnel
PUMA SE: PUMA's First Half Results in line with Guidance (news with
additional features)
29.07.2014 / 08:00
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PRESS RELEASE
PUMA's First Half Results in line with Guidance
Negative Impact of Volatile Currencies Continues
Herzogenaurach, 29 July 2014
2014 Second Quarter Facts
- Currency adjusted sales increase slightly to EUR 652 million
- Gross profit margin improves to 46.7%, up 70 basis points vs. last year
- OPEX stable despite World Cup marketing expenditures
- EBIT of EUR 13 million
2014 Half Year Facts
- Currency adjusted sales flat at EUR 1.38 billion
- Gross profit margin stable at 47.7%
- Slight OPEX reduction of 1.2%
- EBIT of EUR 71 million
- EPS amounts to EUR 2.66
- Free cash flow increases by EUR 40 million due to improved working
capital
- Successful launch of Arsenal partnership
Bjørn Gulden, Chief Executive Officer of PUMA SE: "PUMA's second quarter
sales and operating profit developed in line with our expectations. I was
very happy with PUMA's visibility during the World Cup in Brazil. Feedback
on both our dual-colored Tricks football boots and our national team
jerseys with ACTV technology has been great. The sell-through of these
products has been excellent and exceeded our expectations. In addition, we
celebrated a successful Arsenal launch in July, followed by very good
initial sales at Retail of Arsenal replica jerseys. We are now looking
forward to launching our new "Forever Faster" marketing campaign in August,
which is another step in the process of becoming the "fastest sports brand
in the world". But, as I have said all along: We know that the
repositioning of PUMA and the turnaround of the business will take time.
However, I feel we are making progress on all our key strategic priorities
and we have initiated the right projects to make 2014 the start of the
turnaround."
Second Quarter 2014
Sales increase slightly
PUMA's consolidated sales in the second quarter of 2014 were in line with
expectations, rising by 0.6% currency adjusted to EUR 652 million. However,
due to continued currency weakness in Turkey, Russia, South Africa, India,
Japan and the Americas, sales declined by 5.8% in Euro terms.
Performance in the Americas improves
In the EMEA region, sales declined by 1.4% currency adjusted to EUR 256
million as strong performances in the United Kingdom and Switzerland could
not entirely offset a decline in French and Scandinavian wholesale
revenues.
Sales in the Americas increased by 4.6% currency adjusted to EUR 251
PRESS RELEASE
PUMA's First Half Results in line with Guidance
Negative Impact of Volatile Currencies Continues
Herzogenaurach, 29 July 2014
2014 Second Quarter Facts
- Currency adjusted sales increase slightly to EUR 652 million
- Gross profit margin improves to 46.7%, up 70 basis points vs. last year
- OPEX stable despite World Cup marketing expenditures
- EBIT of EUR 13 million
2014 Half Year Facts
- Currency adjusted sales flat at EUR 1.38 billion
- Gross profit margin stable at 47.7%
- Slight OPEX reduction of 1.2%
- EBIT of EUR 71 million
- EPS amounts to EUR 2.66
- Free cash flow increases by EUR 40 million due to improved working
capital
- Successful launch of Arsenal partnership
Bjørn Gulden, Chief Executive Officer of PUMA SE: "PUMA's second quarter
sales and operating profit developed in line with our expectations. I was
very happy with PUMA's visibility during the World Cup in Brazil. Feedback
on both our dual-colored Tricks football boots and our national team
jerseys with ACTV technology has been great. The sell-through of these
products has been excellent and exceeded our expectations. In addition, we
celebrated a successful Arsenal launch in July, followed by very good
initial sales at Retail of Arsenal replica jerseys. We are now looking
forward to launching our new "Forever Faster" marketing campaign in August,
which is another step in the process of becoming the "fastest sports brand
in the world". But, as I have said all along: We know that the
repositioning of PUMA and the turnaround of the business will take time.
However, I feel we are making progress on all our key strategic priorities
and we have initiated the right projects to make 2014 the start of the
turnaround."
Second Quarter 2014
Sales increase slightly
PUMA's consolidated sales in the second quarter of 2014 were in line with
expectations, rising by 0.6% currency adjusted to EUR 652 million. However,
due to continued currency weakness in Turkey, Russia, South Africa, India,
Japan and the Americas, sales declined by 5.8% in Euro terms.
Performance in the Americas improves
In the EMEA region, sales declined by 1.4% currency adjusted to EUR 256
million as strong performances in the United Kingdom and Switzerland could
not entirely offset a decline in French and Scandinavian wholesale
revenues.
Sales in the Americas increased by 4.6% currency adjusted to EUR 251
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