NFL Mexico City Generated $45M NRL Clubs Reportedly Lost A$53.4M In '16 Finance Notes RFU Execs Out-Earning FA Counterparts Open Prize Fund May Be In Dollars MEP Wants More Details About F1 Sale Cavendish Invests In Science In Sport Barcelona Withdraws Liability Action NZ Club Looking To Crowdfund CL Trip French Ski Companies Win Chinese Deals
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
SBD Global/May 15, 2013/Finance
Puma Cuts Full-Year Profit Forecast, Stock Falls 3.5% In Frankfurt Trading
Published May 15, 2013
WINDS OF CHANGE: In London, James Wilson reported Puma "underlined the challenge" facing incoming CEO Bjorn Gulden. The warning comes as French group PPR, Puma’s majority owner, "is expected to take a tighter grip on its struggling subsidiary," whose underperformance is being blamed "partly on straying too far from its sports roots towards becoming a lifestyle and leisure brand." Puma’s first-quarter sales fell more than 2% year-on-year to €782M ($1M), but the main point of difference with adidas, where first-quarter sales also fell 2%, "was the decline in profitability" (FINANCIAL TIMES, 5/14).