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Reviews sporting goods manufacturer: Puma boss expresses himself due to Corona forecast

14:35  28 october  2020
14:35  28 october  2020 Source:   handelsblatt.com

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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.

Der Puma-Chef warnt vor einer sich eintrübenden Stimmung unter den Verbrauchern. © AFP The Puma boss warns of a clouding mood among consumers.

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 for , the group, 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.

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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.

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The world market leader exceeded all expectations . A strong online business and lower costs were primarily responsible for the good numbers. The Nike spent significantly less on advertising in its first quarter of the new fiscal year. The number two in the sports industry, Adidas, does not want to present its figures until mid-November. Meanwhile,

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.

More: With this shoe, Adidas wants to overtake the market leader Nike.

Vor allem in Amerika und Europa verzeichnete der Konzern kräftige Zuwächse, in Asien ging der Umsatz dagegen zurück. © dpa The group recorded strong growth in America and Europe in particular, while sales in Asia fell. reader favorites: IW study: With this fortune you belong to the richest Germans "/ a> Thyssen-Krupp: How the disempowered Krupp descendants fight for the legacy of the family" / a> Combating pandemics: "Hard but short "Corona brake: Merkel wants to convince the countries of this plan" / a> +++ Corona-News +++: Robert Koch Institute reports almost 15,000 new cases - Altmaier says financial aid to artists "/ a> Comment: The Fear of Friedrich Merz is huge "/ a>

Takeover: Bicycle manufacturer Canyon is sold to Belgium .
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