Fashion
Puma’s worldwide sales surged 18.4 percent last year, to €5.502 billion and its pre-tax profit rose 40 percent to €262 million.
But the positive results were tempered by a warning from CEO Bjorn Gulden about the year ahead given the outbreak of coronavirus in China.
“After a good start into 2020, February has of course been negatively affected by the outbreak of COVID-19. The business in China is currently heavily impacted due to the restrictions and safety measures implemented by the authorities.”
He said businesses in other markets, especially in Asia, are suffering from lower numbers of Chinese tourists.
“Given the current uncertainty around the virus, it is, of course, impossible to forecast its impact on the business. We will do everything we can in the short term to minimize the damage and remain very positive in the long term both for our industry and for Puma,” said Gulden.
Puma’s year ended with a strong fourth-quarter result, with revenue up by 20.6 percent and pre-tax earnings up by 47 percent.
“All regions and all product divisions were up by double-digits. This made 2019 the best year in Puma‘s history,” said Gulden. “I am very proud of what the team has achieved and thought this performance shows the global potential of the Puma brand.”
