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Puma's Shoe Sales Bolster Growth In '17

Puma is "counting on the trend of sneakers invading schools and offices to continue unabated, bolstering its growth as an independent company," according to Sachgau & Weiss of BLOOMBERG. The German sportswear company said Monday that it "expects operating profit to rise by as much as one-third this year as its sneakers and hoodies find their way into more young shoppers’ wardrobes." The forecast comes after Puma's majority owner, Kering, last month said that it "plans to pass on most of its stake to investors to focus on luxury brands like Gucci," with shareholders voting on the proposal on April 26. Booming demand for suede sneakers, classic tracksuits and other “athleisure” wear helped the company surpass €4B ($4.9B) in sales for the first time, as Nike and Under Armour in the U.S. are "losing ground." Puma recently added actress Selena Gomez to its sponsorship roster alongside singer Rihanna as it "shifts marketing expenses away from television to online media" (BLOOMBERG, 2/12). REUTERS' Emma Thomasson reported despite the fact Italy, whose kit Puma provides, will not play at the World Cup, Puma CEO Björn Gulden said that he was "confident" the company's football sales would recover in '18 due to "popular new shoes worn by top players," adding that it hopes to sign another one or two World Cup teams. Gulden: "We think 2018 will be a turnaround year for our soccer business." Puma's social media campaigns for '18 will "put a big focus" on Formula 1 driver Lewis Hamilton and Gomez. Puma last week agreed to a partnership with the Senegalese Football Federation, bringing the number of World Cup teams it is sponsoring to three, along with Switzerland and Uruguay, "well behind" adidas and Nike, which "dominate the market." Puma reported quarterly EBIT more than doubled to €30M ($37.8M) on sales that rose by a currency-adjusted 14.5% to €1.04B ($1.28B), "broadly in line with average analyst forecasts" (REUTERS, 2/12).

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