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Puma Posts Strong North American Growth in Q4, Will Launch App by Year’s End


The Americas paced all regions for Puma in Q4 revenue growth, rising 31.3 percent in constant currency to equivalent of $969.7 million bolstered by gains in North America. Puma has been shifting inventories and resources from China to N.A. and has also been seeing strong increases in Argentina and Brazil over the last two years. The Cat, slated to debut its first shopping app in India shortly, will launch it in the U.S., Japan, and Europe later this year.

In Q4, Puma reported a 14.3 percent constant currency increase in total sales to the equivalent of $2.02 billion. Wholesale revenues rose 16.5 percent to $1.38 billion and Direct-To-Consumer sales jumped 9.7 percent to $638.9 million. Footwear sales rose 15.6 percent to €755.0 million ($862.9 mm). Apparel sales were 11.7 percent higher at €727.3 million ($831.2 mm). Running, training, golf, basketball, and other team sports paced the growth with lifestyle sales also rising. Puma is entering outdoor with trail running shoes and apparel and preparing to launch a paddle sports collection of soft and hard goods. FY21 sales, meanwhile, increased 31.7 percent to a record €6,805.4 million with all regions and product categories rising by double-digits. Wholesale segment gained 35 percent to €5,080.6 million ($5.8 bb) and DTC was 22.8 percent higher at €1,724.8 million ($1.97 bb).

Taking a conservative stance on 2022, Puma is currently forecasting “at least 10 percent” currency-adjusted sales growth in all geographic regions. Higher freight and raw material costs are likely to weigh on profits with the ongoing consumer boycott in China limiting growth in that market. The annual operating profit (EBIT) is pegged at €600-700 million, up from a record €557 million ($636.6 mm) in 2021.