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Puma Sees Gains In Q3, With Basketball Launch Going Well

Puma today "raised its outlook for full-year sales and operating profit" after it reported "strong sales growth in the Americas and Asia" for Q3. The Germany-based company also said that its "first basketball shoe in 20 years had been well received." Puma CEO Bjorn Gulden indicated that the "pre-launch of its new basketball line in late September had gone well." Quarterly sales rose almost 16% in the Americas and 23% percent in Asia, with overall sales up a "currency-adjusted" 14% to US$1.42B and operating profit up 28%. The news "kicked its shares up" 9% in early trading (REUTERS, 10/25). At presstime, shares of Puma were trading at $497.93 on the German stock exchange, up 7.9% (THE DAILY).

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