China'S Market Grew By Two Digits In PUMA And Global Sales Of Nearly 1 Billion 500 Million Euros In The Third Quarter.

In October 28th, PUMA released its third quarter results in fiscal 2019. In the three months ended September 30, 2019, global sales increased by 17% to 1 billion 478 million euros compared with the same period last year, and net profit increased 29.7% to 105 million euros, and the accumulated sales volume reached 4 billion 15 million euro in the first three quarters.

According to the financial report, in the third quarter, PUMA, including the Chinese market, grew by two digits in the Asia Pacific region. The Americas region also gained two digit growth, while the European, Middle East and Africa regions maintained a higher single digit growth rate.

From the major categories, PUMA's footwear, clothing and accessories in the three quarter increased by 16.9%, 18.7% and 13.4%, respectively. Gross margins rose from 49.6% in the same period last year to 49.7%, and operating profit increased by 24.8%.

In terms of costs, operating expenditure rose by 18.1% to 579 million euros over the same period, mainly due to increased sales related costs such as logistics, marketing and retail sales.

According to the expected performance of PUMA2019 fiscal year, annual sales growth has been adjusted from 10% to 13%. The profit before tax is 410 million -4.30 billion euros, which is higher than the expected 395 million -4.15 billion euros.