Puma Eyes Moderate Sales Growth in 2021
In pandemic-impacted 2020, The Big Cat posted a 4.9 decline in global sales in euros to the equivalent of $5.97 billion. Annual net income was down 70 percent and EBIT (Earnings Before Income Taxes) was off 53 percent.
Puma is approaching 2021 with a number of key objectives. Among them are a focus on sustained multi-channel growth, a strong sustainability track record and a fine-tuned positioning in the women’s segment.
In FY2020, the company experienced a 3.1 percent decline in footwear sales and 1.5 percent drop in apparel revenues. By channel, wholesale revenue dipped 4.0 percent and all Direct-To-Consumer sales rose 6.4 percent with ecommerce rising nearly 63 percent. In the Americas, FY20 revenues declined 8.7 percent on a reported basis (-3.0% in constant currency) to the U.S. dollar equivalent of approximately $2.03 billion.