PARIS — Puma AG, Europe’s second-largest sporting goods company, reported a 16.4 percent rise in second-quarter earnings, boosted by sales in the Americas and the recent soccer World Cup in South Africa.
Net profit climbed to 44.8 million euros, or $57.2 million, from 38.5 million euros, or $52.4 million, a year ago, the German company said Thursday.
Revenue in the three months ended June 30 increased 2.5 percent to 615.4 million euros, or $785.3 million.
In the half, net profit climbed to 127.9 million euros, or $170.2 million, from 44 million euros, or $58.5 million, a year earlier. Last year’s earnings were impacted by one-off restructuring costs.
Dollar figures are converted from euros at average exchange rates for the periods to which they refer.
Puma — controlled by French conglomerate PPR, which reports first-half earnings today — said it expects earnings before extraordinary items to improve over the year and revenue to grow by a low- to midsingle-digit percentage. Earnings before interest and taxes before special items is expected to improve compared with last year.
“We are gearing up for solid growth in the second half of the year based on a strong outlook,” Puma chief executive officer Jochen Zeitz stated, adding the company was “ready” to re-engage its long-term expansion plans. The next phase of the sporting-goods maker’s strategic plan through 2015 “shall enable us to significantly tap into Puma’s long-term sales potential of 4 billion euros and beyond.”
In a press conference, he added: “Our goal is to be the most desirable and sustainable sports lifestyle company in the world.”
By region, second-quarter sales in the Americas gained 26.1 percent, Zeitz said. That more than offset sales declines of 5.7 percent in Asia-Pacific and 7.2 percent in Europe, the Middle East and Africa, Puma’s largest region by revenue.
By category, accessories was the star performer, with sales climbing 28.9 percent, boosted by the integration of Cobra Golf, which Puma acquired in March. Apparel sales rose 2.3 percent, while footwear sales decreased 2.7 percent.
Rival Adidas AG said earlier this month second-quarter profit jumped to 126 million euros or $160.8 million, from 9 million euros, or $12.3 million, during the same period a year ago, led by sales of soccer gear. Adidas is slated to report full results on Wednesday.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion