6.90%

Puma Eyes Market Recovery By End of 2020, Growth Again in 2021

The Cat continues to see the remainder of this year as “difficult,” so it’s continuing to focus its efforts on survival, recovery and emergence to another growth trajectory. The company, investing in full new product ranges for 2021, says the “Rider” style reintroduced in late 2019 was one of the brand’s most important models during the first half of 2020 as new colorways and versions were introduced.

As for the recently completed second quarter, Puma SE CEO Bjorn Gulden in a statement called it “the most difficult quarter I have ever experienced.” After 55 and 38 percent declines in April and May, respectively, Puma sales rebounded to a 6 percent monthly dip in June. Currency-adjusted footwear sales slipped 34 percent to the equivalent of $443.1 million for the period ended June 30. Americas’ revenues, which include the U.S., were down 43 percent currency-adjusted to the equivalent of $298.2 million. The company did not break out U.S.-only revenues for the period, which saw it open a new Indianapolis distribution center that will enable 90 percent of U.S. consumers to receive orders within two days.