PUMA CEO Hints There's 'Brand Heat' On the Way in Q2 Results
have released their , which in turn means their half year 2023 report is in. The results show promise for footwear product, as it continues to rise and dominate their overall sales.
Compared to the same time last year, PUMA’s overall half-year sales have increased by 10.2 per cent ‘despite the volatile environment’, according to CEO Arne Freundt. Even with this increase, the gross profit margin has fallen slightly from 46.5 per cent in H1 2022 to 44.8 per cent in H1 2023. Freundt has attributed this to currency change, sourcing costs and promotions.
Footwear product has remained strong in PUMA sales, holding 54 per cent of the total revenue. This is up from last year’s 50 per cent share, and the overall sales have increased by 19.9 per cent, demonstrating a continued demand for footwear product.
Another interesting trend shown in this report is the decline in sales in the Americas region. The sales declined by 2.7 per cent for the half, with a steeper decline of 4.4 per cent shown in the second quarter. This is at great odds when compared to the 25 per cent and 24.4 per cent increases respectively seen in the EMEA and Asia/Pacific regions.
Despite these decreases in profits and the downturn of the Americas region, Freundt is still positive, stating they are on track to achieve their full-year outlook. The Big Cat's CEO also says he is 'very sure that we will create a lot of brand heat in the second half of the year', likely referring to the upcoming relaunch of the and another release for signature shoe.