Puma's Business In Americas, Europe Off To Strong Start To '17

Puma, which sponsors Usain Bolt, said on Tuesday that its businesses in the Americas and Europe "had a strong start to the year," according to James Shotter of the FINANCIAL TIMES. The German sportswear group said earlier this month that it had made an operating profit of €70M ($76.5M) in the first three months of this year. On Tuesday, it gave further details, revealing that -- "excluding currency movements" -- its sales grew fastest in the Americas, where they rose 17%. In Europe, the Middle East and Africa, sales were up 15.9%, and in Asia they rose 12.4%. Puma's "dominant footwear business" grew 24.8%, while its clothing and accessories lines "grew less quickly," notching 9.5% and 3.9% growth, respectively (FT, 4/25). BLOOMBERG's Richard Weiss reported net income "jumped" 92% to €50M ($54.7M). The "strong brand momentum" will help bring "a more normalized level of profitability" to the company, Berenberg analysts Zuzanna Pusz and Mariana Horn said (BLOOMBERG, 4/25).