Puma’s North American Sales Drop 19% in Q1
Weakness in the off-price retail channel here was more than offset by gains in EMEA and a return to growth in Greater China, sending The Big Cat’s first quarter revenues up 14% to €2,187.7 million ($2,347.3 mm) from €1,912.2 million, but the bottom line slipped 3% to €117.3 million ($125.9 mm) from €121.4 million. Americas sales inched up 1% (-1% CC) overall as 55% growth in Latin America offset a 19% tumble in North America largely from lower sell-in to U.S. wholesale, which is still clogged with excess product. U.S. direct-to-consumer ... Log in to view full article.