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Puma: Uncertainties remain high because of the pandemic

The sporting goods manufacturer Puma reports quarterly figures. In the second quarter of 2020, sales fell 30.7 percent to 831 million euros. “The second quarter of 2020 was the most difficult quarter I have ever had. A virus that paralyzed 85 percent of the world’s global sports and fashion business was an experience I never expected, ”said Bjørn Gulden, chief executive officer of the Herzogenaurach company. This caused losses before interest and taxes: Puma put the operating loss at 43.6 million euros after having achieved more than 222 million euros in profit before interest and taxes in the same period of the previous year. The bottom line is a quarterly loss of 59.4 million euros.

“The quarter started with a drop in sales of minus 55 percent in April. Business recovered somewhat in May, but was far below the previous year with a 38 percent drop in sales. There was a significant improvement in June and we saw a decrease of just 6 percent, ”said Puma as the quarter progressed. Overall, however, the numbers were not as bad as feared.

Looking ahead to the year as a whole, Puma emphasizes the continuing uncertainties that the ongoing COVID-19 pandemic will bring. “While Puma’s current business performance may even indicate a full recovery before the end of the year, the risk of a second wave with another lockdown is still very high,” the company said on Wednesday. A reliable forecast is therefore not possible, says Puma.

At a glance – chart and news: Puma

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