Puma achieves “record” £7.5b full-year 2022 sales
Global sportswear giant Puma has published its Q4 and full-year 2022 results, boasting record year sales of £7.495 billion (€8.465 billion), up by 18.9%.
During the fourth quarter, Puma’s sales increased by 21.1% to £1.95 billion (€2.19 billion). Gross profit margins stand at 44%, down from 48.2% in 2021.
The company reported strong wholesale business, which increased by 25.7% to £1.38 billion (€1.56 billion). Its direct-to-consumer (DTC) business also rose by 11% to £565.6 million (€638.9 million).
Puma reported the following full-year 2022 results:
- Sales up by 18.9% to £7.49 billion
- Gross profit margin is at 46.1%, down from 47.9%
- Operating result (EBIT) up by 15% to £568 million
- Wholesale business up by 22.7% to £5.76 billion
- Direct-to-consumer business up by 7.8% to £1.72 billion
- Growth in retail stores up 11% and e-commerce up 2.2%
Arne Freundt, Chief Executive Officer of Puma, commented: "2022 was a record year for PUMA. We accelerated our growth across all product categories and worldwide despite a volatile market environment.
"This success is thanks to our amazing PUMA Family team and to our great partnerships with athletes, retailers, and suppliers. While facing some economic headwinds in 2023, we remain hungry and will advance the execution of our successful strategy. We will focus on elevating our brand strength and on winning market share in the U.S. and China."
This follows the recent news that Rihanna will be joining forces with Puma once again. Fenty’s triumphant return was confirmed on with a simple statement by CEO Arne Freundt, "she’s back".
