Fenty Puma by Rihanna sneakers.

PARIS Puma SE on Monday raised its full-year guidance, citing a strong rise in sales and profitability over the second quarter, as well as a positive business outlook for the year.

The German sportswear company that is controlled by French group Kering said it now expects sales to grow between 12 and 14 percent, adjusted for currencies, up from its previous target of low double-digit growth. The company had already outpaced expectations with growth in all of its regions earlier this year, prompting it to raise the annual sales growth target in April.

Puma said consolidated sales rose 16 percent in the second quarter to 968.7 million euros, adjusted for currencies.

It also raised its target for operating result for the year to between 205 million euros and 215 million euros, compared to a previous range of between 185 million euros and 200 million euros. It recorded an operating profit of 43.4 million euros in the second quarter.

The company said it would stick to its previously set target of significant improvement in net earnings for the year.

Puma will release full financial results for the first half on July 26.

load comments
blog comments powered by Disqus