For the first quarter of 2008, PUMA’s worldwide branded sales, which include consolidated and licensing sales, rose 0.5% on a currency neutral basis. In reporting terms, however, branded sales fell 2.7% to €741.2 million, due to the strength of the Euro against most of the company’s related currencies. Branded footwear sales were down 4.6% to €404.1 million. Apparel was almost on a par with the previous year’s level totalling €246.9 million, and the company’s accessories business improved by 36.0% to €90.1 million.
In comparable currency neutral terms, consolidated future orders were up 12.1%. In reporting terms, orders increased 6.5% to €1,170.4 million. On a like-for-like basis, footwear future orders were up 10.2% to €677.9 million, apparel improved 14.3% to €418.2 million and accessories grew 18.3% to €74.3 million. PUMA’s management has reaffirmed a currency adjusted single-digit sales growth for the fiscal year 2008 despite a continued difficult economic and consumer environment.
PUMA AG CEO Jochen Zeitz said, “In the midst of an overall economic environment that continues to be challenging, PUMA has shown resiliency in both growth and desirability. Despite a difficult 2008 outlook, we will continue to invest in our planned initiatives to capitalise on major opportunities with global sporting events and fully maximize PUMA’s long-term potential.”
