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Our sales growth
accelerates in Q3
PUMA's currency-adjusted sales up 5% in third quarter
November 6, 2024PUMA's currency-adjusted sales up 5% in third quarter
November 6, 2024PUMA’s sales growth has picked up pace, our earnings (EBIT) are in line with expectations and we are confirming our outlook for 2024. Those were the main messages of our third quarter results, which we announced on Wednesday morning.
Sales in the July-September period, adjusted for currencies, rose by 5.0% to € 2,308 million, a clear increase from the first half of the year, as we had expected. In terms of product divisions, sales increased the most in Footwear, followed by Accessories, while Apparel saw a small decline. While all regions showed an increase in sales in the third quarter, the Americas were the strongest performer, with both the US and Latin America performing better than last year.
“I'm pleased with the progress on our brand elevation journey as we are building the foundation for accelerated and sustainable growth. We know this takes time, but we have made strong strides in enhancing our brand equity and desirability, stepping up our performance business, and building up consumer relevance in the Sportstyle Prime market. Our new Speedcat Go-to-Market Strategy is performing very well and I am excited about the commercial launch of the Speedcat in a few weeks. I am also pleased that our wholesale business has returned to growth.”
Our operating result (earnings before interest and taxes or most commonly referred to as EBIT) slightly increased by 0.3% to € 237 million.
With the first nine months behind us, PUMA is now in the final sprint to the end of 2024. For 2024 as a whole, we continue to expect currency-adjusted sales growth in the mid-single-digits and an operating result (EBIT) in the range of € 620 million to € 670 million.