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Puma Profit Rises 13.5%

Bolstered by solid footwear and apparel sales, Puma AG said Tuesday that net profits for the first quarter ended March 31 rose 13.5 percent to 90.9 million euros.

PARIS — Bolstered by solid footwear and apparel sales, Puma AG said Tuesday that net profits for the first quarter ended March 31 rose 13.5 percent to 90.9 million euros, or $119.5 million, from 80.1 million euros, or $101.6 million, a year ago on sales that gained 11.9 percent to 496.5 million euros, or $652.5 million.

By category, accessories posted the strongest growth rate, with sales up 30.1 percent to 34.7 million euros, or $45.6 million, while footwear sales rose 10.6 percent to 338.3 million euros, or $444.6 million. Apparel was also up 11.2 percent to 123.6 million euros, or $162.4 million. Dollar figures are at the average exchange rate.

By region, sales in the Americas bounded 29.5 percent to 94.2 million euros, or $123.8 million. Sales in Europe were up 7.8 percent to 338 million euros, or $444.2 million, and grew 59.4 percent to 20.5 million euros, or $26.9 million, in the Middle East and Africa. Sales, however, slid 1.5 percent to 43.8 million euros, or $57.6 million, in Asia.

The group reiterated its outlook for mid- to high-single-digit sales growth and is “optimistic” that it will see mid- to high-single-digit growth in earnings on a comparable basis.

This story first appeared in the April 27, 2005 issue of WWD.  Subscribe Today.