Puma Reports Increases In Fourth Quarter Sales, Profits
Puma said that Q4 profits rose 17% "after new products fueled sales growth in Europe and Asia," according to Holger Elfes of BLOOMBERG NEWS. Net income climbed to $57.6M (all figures U.S.), or $3.60 per share, from $49.4M ($3.06 per share) in the year ago period. Puma in '07 collaborated on a shoe line with motorcycle manufacturer Ducati and introduced accessories created with Dutch designer Marcel Wanders to "fuel revenue." Q4 sales climbed 14% in the Asia-Pacific region and 20% in Europe, the Middle East and Africa, while dropping 3.3% in the Americas "after Foot Locker Inc. reduced orders" (BLOOMBERG NEWS, 2/26). Overall, Q4 sales increased 5% to $758.7M (WALL STREET JOURNAL, 2/27).
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