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May 08, 2007
Puma Lowers Outlook As U.S. Orders Slow
Germany’s Puma warned this week that a decline in U.S. orders could slow its full-year earnings and revenue growth. The news comes as French retail group PPR is trying to take a controlling stake in the activewear company.
Puma reported a 3.7 percent gain in first quarter profits, led by footwear. Although a dip in sales for the remainder of the year would decrease the value of PPR’s possible investment, Puma remains optimistic about the deal.
PPR, which owns Gucci, could attract some high-end sourcing and licensing deals for Puma to increase the value of the brand.
Posted by Blacks on May 8, 2007 09:06 AM
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