German footwear giant Puma has released its first quarterly statement for 2016, and the results show robust growth across all brand segments.
Puma grew sales 3.7 percent to 851.9 million euros, or $939.7 million, in the first quarter of the year, compared to 821.4 million euros in 2015.
The company said it’s main growth driver was footwear, with “strong momentum” in the women’s category, underpinned by the successful launches of new products and marketing concepts, including Fenty Puma, which the company previously credited as helping to attract more female consumers to the brand.
Puma’s Footwear segment grew for the seventh quarter in a row, with sales up by 3.7 percent, with strong gains in the brand’s sportstyle, running, and training categories. Apparel also performed well, up 3.7%, while accessories saw a rise of 4 percent. The company said its training and teamsport products were its leading draws in apparel.
The strongest growth region for the brand was in Asia, where, lead by China and India, Puma improved 9.8 percent. In Europe, sales grew by 3.8 percent, with stronger growth in Germany, Austria, and France. Sales in the Americas, however, remained flat, down 0.3 percent, although on a currency adjusted basis sales grew 5.4 percent.
“The first quarter of 2016 developed as we expected,” said Bjørn Gulden, CEO of Puma SE. “We saw organic growth in all segments and all regions. The development in certain currencies slowed down the reported growth in both top and bottom line. We are especially happy to see that our sell through to consumers is improving. Both in our own retail and with our retail partners we see a continuous improvement. This is especially strong in our women’s business, where the launches of new products and new marketing, concepts have started to show excellent results.”
Puma’s owned and operated retail sales, including e-commerce, increased 15.1 percent representing 18.6 percent of total sales in the first quarter of 2016. The company credited strong like-for-like sales growth on improved product offerings and its new “Forever Faster” store design.
The company is looking forward to major sporting events such as The Copa América, the UEFA Euro 2016, and the Summer Olympics to provide a sales lift, and kept its yearly net sales forecast in the high single digits.