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Strong Footwear Sales Help Puma To Better-Than-Expected Q2

Puma "notched another strong quarter" in Q2, with double-digit growth in all regions and "footwear the main driver behind sales." Puma is off to a "better-than expected start to the year." Net earnings rose 13.7% in the three months ending June 30 to $25.5M (all figures US), with sales up 16% to $1.128B, "adjusted for currencies." Operating profit "nearly quadrupled" to $50.5M, and gross margin – a "key indicator of profitability" – rose 90 basis points to 46.5% (WWD.com, 7/26).

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