Puma reveals record quarterly sales in Q3
Despite geopolitical and pandemic-related challenges, Puma has reported "record" sales for the third quarter and first nine months of 2022.
For the third quarter, the group's sales increased 16.9% to (€2.3 billion), representing the highest quarterly sales in Puma's history. Sales in the EMEA region were up 18.5%.
Sales also increased 33.3% in footwear and 9.9% in apparel, driven by continued demand for performance categories including running and training, teamsports and basketball.
However, sales in accessories were down 10.2%, due to a "softer" leg and bodywear business.
For Q3, Puma shared the following results:
- Wholesale sales up 19.9% to (€1.8 billion).
- DTC sales up 6.5% to (€489.7 million).
- Retail store sales up 4.2%.
- Ecommerce sales up 11.8%
- EBIT up 12.6% to (€258 million).
For the first nine months of 2022, Puma shared the following results:
- Sales up 18.2% to €6.2 billion.
- Wholesale sales up 21.8% to €4.9 billion.
- DTC sales up 6.4% to €1.3 billion.
- Retail store sales up 11.1%.
- Ecommerce sales down 2.1%.
- Gross profit margin down to 46.8%.
- EBIT of (€600 million), compared to (€492 million) in 2021.
Bjørn Gulden, CEP of Puma, said: “Despite all the global uncertainties the third quarter was again a very good quarter for us. With almost all our markets up double-digit, we continue to see a strengthening of the PUMA brand and our sales globally.
"We expect continued volatility in the market during the fourth quarter but are confident that we can deliver according to our full-year outlook. We will continue to invest in our people, brand and infrastructure, as sales growth and higher market shares will be more important than short-term profit optimisation.”