LONDON — Double-digit growth in all product categories and strong demand across all geographic regions fueled a 136.9 percent spike in net earnings at Puma SE, the company said Wednesday.
Net earnings in the final three months of the year to Dec. 31 were 33.1 million euros, or $44.7 million.
Revenues advanced 15.6 percent to 720.5 million, or $972 million, helping the German activewear firm, which is controlled by French retail-to-luxury group PPR, surpass the 3 billion euro ($4.12 billion) sales target it had set for full-year 2011.
Net earnings for 2011 increased 13.8 percent to 230.1 million, or $320.4 million, on the back of an 11.2 percent rise in revenue to 3.01 billion euros, or $4.19 billion.
Dollar figures are converted from euros at average exchange rates for the periods in question.
Puma chief executive officer Franz Koch said he expects a sales increase in the “high” single digits for the current year and in 2013, with net earnings rising in the “mid” single digits for both years.
“We managed to surpass our sales target this year, eclipsing 3 billion euros in sales for the first time, while Puma’s net earnings also beat management’s expectations,” Koch said.
“With the support of a strong sports marketing portfolio, we are well on track to explore the opportunities of the sports year 2012 as well as achieve our 2015 goal of 4 billion euros [$5.24 billion] in sales,” he said.
In the fourth quarter, Puma said footwear sales increased 11.4 percent; apparel grew by 12.7 percent, and accessories, including Cobra Golf, which the company bought in 2010, was up 43.6 percent.
By region, the Americas grew 27.8 percent, fueled in particular by Latin America, with motor sport the top-performing category in the region. The company said sales in the U.S. “improved,” especially for lifestyle products.
In Europe and the Middle East, sales rose by 8.3 percent with the U.K., France, and Russia performing particularly well, especially in the lifestyle category. Asia-Pacific sales climbed 11 percent, with football shoes and lightweight running products among the top sellers.
The company said it’s sticking to its so-far successful “Back on the Attack” growth strategy, which aims to unlock the brand’s long-term potential partly by differentiating Puma’s lifestyle and performance categories.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews