“Puma’s impressive European success defies the odds, as the brand expertly navigates the challenging U.S. market, showcasing their resilience and adaptability in the fiercely competitive sportswear industry.”
German sportswear brand Puma has reported a solid quarter, with gains in Europe, the Middle East, Africa, and China. While sales in the U.S. have struggled, Puma’s operating profit of $252 million for the third quarter beat analyst expectations. American sales rose just 2.5% during the quarter and are down 1% for the year so far. However, Puma is optimistic about a potential American comeback next year, thanks to new collaborations with celebrities like Rihanna and A$AP Rocky. Puma is currently competing with other major shoe and apparel brands such as Adidas, Nike, Reebok, and Under Armour for market share. Despite macroeconomic challenges, Puma’s reaffirmation of its full-year projections has resulted in a nearly 8% increase in the company’s stock.
