PUMA grew Q4 2017 sales to above 4-bn euro for the first time. According to PUMA, all regions recorded double-digit growth. Shoe sales was a main driver of the 14.5% sales growth during the fourth quarter, the brand reports.
For the full 2017 year currency-adjusted sales grew 15.9% and the consolidated net income more than doubled to 136-m euros.
“The positive response from our consumers and trade partners gives us cause for optimism about the year 2018,” said Puma CEO Bjørn Gulden (above) with a view to the overall balance sheet for 2017. They expect to increase sales by 10% in 2018 at constant exchange rates.
According to Gulden PUMA is pleased about Kering’s proposal to reduce its shareholding in PUMA by distributing non-cash dividends to its shareholders. “This will make PUMA an independent company with a free float of 55%,” he said.