Sportswear maker Puma reported its first rise in footwear sales in almost two years yesterday as well as strong demand for its Arsenal football tops as it hiked its sales target for the year.
The German firm, which has been slipping further behind larger rivals Nike and Adidas in recent years, said third-quarter net profit fell 45 per cent due to currency effects and higher marketing spending.
However, quarterly sales rose 3.7 per cent, or by 6.4 per cent after stripping out currency effects.
Footwear sales, which account for 44 per cent of the total, grew a currency-adjusted 2 per cent – the first increase in seven quarters – helped by the popularity of its footall boots which were worn by several top players at the World Cup in Brazil.
Puma is investing to help restore its reputation for sports performance after a shift into fashion lines hurt its core trainer sales. It ousted US peer Nike as kit supplier to Arsenal this season and launched its biggest marketing drive yet in August with athletes including sprinter Usain Bolt.
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