In what’s becoming a familiar refrain from European brands, the strong euro pushed down Puma’s reported revenues by 6% to €1,863.8 million ($2,192.7 mm) from €1,989.8 million, compared to just a 1% decline in constant currency. Net income improved to €26.5 million ($31.2 million) from €0.5 million a year ago. Wholesale sales declined 7% (-3% CC) to €1,335.7 million, while direct-to-consumer sales dipped 3% (+4% CC) to €528.1 million, as the focus in both channels was on moving excess inventory. E-commerce grew 1% CC despite a pullback on promotions, with most ... Log in to view full article.