Puma Puma'S Two Quarter Performance Continues To Deteriorate And Shrink

< p > belongs to Kering SA, the sport and lifestyle brand of Kai Yun group. Puma SE Puma's two quarter performance continued to deteriorate.

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< p > because sales in all business areas failed to grow, Puma SE (PUMG.DE) Puma's two quarter sales fell by 4% to 692 million euros in real terms, less than analysts forecast 709 million euros, and 753 million euros in the same period last year, widening to 8% by Euro settlement.

By region, the group sold 266 million euros in EMEA (Europe, Middle East and Africa), down 4.7% year-on-year, with double-digit growth in Russia and Turkey, but was offset by retrogression in Western Europe and southern Europe. France and Italy were particularly disappointed.

Sales in the Americas fell by 1.3%, sales were 267 million euros, and the US and Chile had regressed, with notable progress in Canada and Argentina.

The Asia Pacific region is worst performing, with sales falling by 7.2% to 159 million euros compared with the same period last year. Almost all countries except India and Japan have declined, especially in China and South Korea, which are affected by wholesale integration and high inventory prices.

By category, < a target= "_blank" href= "http://www.91se91.com/" > shoes < /a > category, < a target= "_blank" href= "http://www.91se91.com/" > clothing "less" and accessories sales decreased by 7.3%, 6.8% and 10.9% to 330 million euros, 227 million euros and 136 million euros, respectively.

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< center > < img alt= "Puma Puma" width= "350" height= "233" src= "http://img00.hc360.com/shoes/201307/201307261030512617.jpg" / > /center >

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< p > by the depreciation of the yen and the high discount sales, the gross profit margin of Puma SE (PUMG.DE) in the two quarter dropped 310 basis points, from 49.1% in the same period last year to 46%, and the operating profit decreased from 31 million euros in the same period last year to 31 million euros, lower than the market average value of 34 million 700 thousand euro; net profit decreased from 26 million 700 thousand euro last year to 17 million 500 thousand euro, the decline was 34.2%, diluted earnings per share 1.17 euro, which was lower than that of the same period last year. The profit margin dropped to 49.1% in.

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< p > Puma SE (PUMG.DE) Puma's sales in the first half of the year decreased by 3.1% to 1 billion 470 million euros; gross margin remained unchanged at 47.7%; earnings per share increased to 4.54 euros.

By region, EMEA (Europe, Middle East and Africa) recorded sales of 614 million euros, down 4.8% from the same period last year, and sales in the Asia Pacific region decreased by 5% to 330 million euros, with only 0.2% sales growth in the Americas and 527 million euros in sales.

By category, sales of footwear, clothing and accessories decreased by 7.5%, 3.8% and 11.4% to 703 million euros, 483 million euros and 288 million euros respectively.

Net profit shrank from 26 million 700 thousand euro last year to 17 million 500 thousand euros, a decline of 34.2%, diluted earnings per share of 1.17 euros, down 34.1% from 1.78% in the same period last year.

Net profit in the first half fell to 68 million euros from 101 million euros in the same period last year. Diluted earnings per share were 4.54 euros, compared with 6.72 euros in the same period last year.

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< p > Puma SE (PUMG.DE), Puma chief financial officer Michael Laemmermann said in the earnings report that the two quarter results were in line with expectations and believed that with the new CEO, chief operating officer and global creative director taking over, the group could achieve considerable growth in the future.

He was interviewed by reporters after the report, believing that the worst of the Puma Puma was over, but the second half was still full of challenges.

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< p > new CEO Bj o RN Gulden and chief operating officer Andy Koehler have started work in July. The group also appointed Torsten Hochstetter as global creative director in the middle of this month.

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< p > Puma SE (PUMG.DE) Puma kept the first quarter adjusted annual forecast unchanged.

In view of the disappointing first quarter results and the challenging economic environment, Puma Puma lowered its full year forecast. It is expected that sales in fiscal year 2013 fell to a median low figure. The company had expected sales this year to be unchanged from 3 billion 270 million euros in 2012.

Puma Puma also said that the continued pressure on gross margins would make it unable to achieve the growth of original median operating profit to median digits, but it is still expected that net profit can be realized as expected. Puma Puma's net profit plunged 70% to 70 million 200 thousand euros in 2012.

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