Puma Raises Full Year Outlook
Citing strong Q2 North American results in a preliminary release last week, Puma raised its full-year outlook. The company is now expecting FY21 EBIT to range between 400-500 million euros versus “significant improvement” previously. Additionally, currency-adjusted annual sales are now forecast to rise by at least 20 percent. Besides its strong Q2 results, Puma said it considered ongoing uncertainties related to COVID-19, supply chain constraints and political tensions in key markets when formulating its new annual outlook.
Puma’s currency-adjusted North American sales rose approximately 96 percent to 1,598 million euros ($1.88 billion) in Q2 as the region’s EBIT came in approximately 109 million ($128.6 million) euros versus a year-ago loss of 115 million euros. The company will formally report Q2 results on July 29.