Puma’s operating profit of €236 million in the third quarter beat the €228.8 million average analyst projection.
Third-quarter operating profit of €236 million exceeded the €228.8 million average analyst estimate, according to a statement Tuesday. The company confirmed its earnings forecast for the full year.Chief executive officer Arne Freundt is relying on momentum in Europe — especially eastern Europe — along with Latin America and increased demand in China to counteract shrinking sales in the US, the world’s largest sports market.
While Puma’s third-quarter sales came in slightly higher than estimates, the company was quick to highlight the “challenging geopolitical and macroeconomic environment”.
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