Puma: raises full-year guidance again
(CercleFinance.com) - German sportswear company Puma raised its outlook for 2019 sales and earnings on Thursday, as it reported record performance for the third quarter.
Surprisingly, Puma's Frankfurt-listed shares were down 2.4% after this announcement.
In a news release issued this morning, the company said that it is raising its outlook for currency-adjusted sales for the full year, now expecting around 15% growth, against a previous 13% increase.
It now forecasts full-year EBIT of between 420 million and 430 million euros, tightening up a previous guidance range of 410 million to 430 million euros, despite the negative impact of new US tariffs.
Third-quarter sales increased by 17% (currency adjusted) to 1.5 billion euros, while EBIT increased by 25% to 162 million euros.
This is the best quarter that Puma has ever achieved - both in terms of revenue and EBIT - the group said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Surprisingly, Puma's Frankfurt-listed shares were down 2.4% after this announcement.
In a news release issued this morning, the company said that it is raising its outlook for currency-adjusted sales for the full year, now expecting around 15% growth, against a previous 13% increase.
It now forecasts full-year EBIT of between 420 million and 430 million euros, tightening up a previous guidance range of 410 million to 430 million euros, despite the negative impact of new US tariffs.
Third-quarter sales increased by 17% (currency adjusted) to 1.5 billion euros, while EBIT increased by 25% to 162 million euros.
This is the best quarter that Puma has ever achieved - both in terms of revenue and EBIT - the group said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.