Reviews sporting goods manufacturer: Puma boss expresses himself due to Corona forecast
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The brand's business has recently been significantly better again. But CEO Gulden fears that the new restrictions will drive customers away.
There are only a good two months left until the end of the year: Nevertheless, Puma boss Björn Gulden still does not see himself in a position to make a forecast for 2020. "The development for the coming weeks is still unpredictable," said the manager on Wednesday.
He is concerned about the reintroduced restrictions for consumers in view of the increasing number of infections: "The consumer mood is clouding again," warned Gulden.
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The past few weeks have gone brilliantly forgroup, which is listed in the MDax: In the third quarter, sales rose by a good seven percent compared to the previous year to just under 1.6 billion euros. At constant exchange rates, the increase was a good 13 percent. The profit also rose by 13 percent to 114 million euros.
In the spring, sales had slumped by almost a third. The brand with the predator logo plunged deep into the red. From the end of March, 80 percent of Puma stores and specialist dealers were closed for several weeks.
It looked very different over the summer. Online trading was booming, and customers were also bravely reaching out to the shops again: "Business went much better than we had expected," explained Gulden. "It was almost a normal quarter again." Above all, running shoes and fashion items were in demand.
Ministry expects corona vaccinations from the beginning of 2021
In the corona crisis, in view of the rapidly increasing number of infections, growing expectations are directed towards a vaccine against the virus. © Marius Becker / dpa A woman gets a throat swab at the corona test station at the main train station in Cologne. The Federal Ministry of Health confirmed its assessment on Friday that the first corona vaccinations are expected to be possible in the first few months of next year.
The last few weeks have also been encouraging. “October started well for us,” said the former professional footballer. Nonetheless, Gulden remains cautious: "That can change quickly."
Puma share loses in the morning
It was not well received on the stock market. The shares lost almost four percent of their value in Frankfurt in the morning and were quoted at EUR 76.60. However, the papers have gained around 40 percent in the past six months.
analysts see Puma positively despite the CEO's cautious outlook. The sporting goods company exceeded market expectations by a good deal in the third quarter, judged Jefferies analyst James Grzinic on Wednesday morning. This confirms the good brand image of the Herzogenauracher.
Most recently, the global market leader Nike surprised investors in the sports industry. The Puma competitor kept its sales in the three months to the end of August almost stable at 10.6 billion dollars compared to the previous year and increased profits by eleven percent to 1.5 billion dollars.
1,500 euros because of Corona: you can save taxes with this special payment
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. A strong online business and lower costs were primarily responsible for the good numbers. spent significantly less on advertising in its first quarter of the new fiscal year. The number two in the sports industry, Adidas,
Puma boss Gulden is hoping for a better year 2021, in which the major sporting events canceled this year can take place: the European Football Championship and the Olympic Games. Puma is always prepared: The jerseys for the teams have been in stock since spring.
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Takeover: Bicycle manufacturer Canyon is sold to Belgium .
The investment company GBL outdoes financial investors. The bidding war drove the valuation for the Konstanz company up - to 800 million euros. © Pool via REUTERS The company also equips professional cyclists. In the bidding process for the German bicycle manufacturer Canyon Bicycles, there is a surprising award. After months of tug-of-war, the Belgian holding company Groupe Bruxelles Lambert (GBL) now made the race.