Puma Results Jump Again as Sale Speculation Heats Up
The Big Cat said it will see Q3 sales of about €1,122 million ($1,308.5 mm) compared to €990 million, a 13% jump, with operating income rising to €101 million from €60 million ($70.6 mm). Based on results to date and its positive outlook, Puma raised full year guidance again to sales growth of 14-16% against prior guidance of 12-14% with gross margin expanding to 46.5% from a prior forecast of 46.0%. Operating expense will grow at a low-double-digit rate now, up from a projection of high-single-digit growth. That will result in operating income of €235-245 million, up from prior guidance ... Log in to view full article.