Puma, the renowned German sportswear company, has announced a remarkable resurgence in sales during the third quarter of 2020. This noteworthy recovery can be attributed to the reopening of physical stores following the coronavirus-induced lockdowns, as well as the surge in online sales. Moreover, the increasing interest in exercise and fitness among individuals during the pandemic has also played a significant role in bolstering the company’s sales.

Puma witnessed a noteworthy surge of 13% in sales when adjusted for currency, reaching a staggering 1.58 billion euros (equivalent to 1.4 billion pounds). Additionally, the company’s operating profit witnessed a commendable rise of 17%, amounting to 190 million euros. These figures surpass the average predictions made by analysts, who had anticipated sales of 1.56 billion euros and an operating profit of 174 million euros. The Americas and Europe, Middle East, and Africa regions experienced particularly substantial growth rates, with sales rising by 20.7% and 17.7% respectively. Notably, categories like basketball, motorsport, golf, and team sports significantly flourished during this period.

Despite achieving these stellar results, Puma acknowledges the return of negative consumer sentiment due to the escalating number of coronavirus infections. Consequently, the company is unable to provide an accurate outlook for the entire year, although it remains optimistic about the medium and long-term perspectives.

It is important to note that Puma’s rival and the world’s largest sports athletic shoe manufacturer, Nike Inc, also reported profits and revenue that surpassed expectations in the previous quarter. Nike’s success serves as further evidence of the remarkable recovery within the sportswear industry.

Overall, Puma’s exceptional rebound in sales across the Americas and Europe demonstrates the resilience of the company and underscores the continuously growing demand for sportswear products. However, given the unpredictable nature of the ongoing pandemic, only time will reveal how the company will fare in the upcoming months.

Useful links:
1. Puma official website
2. Nike official website