The Euro 2012 football tournament and the prospect of star sprinter Usain Bolt striking gold at the Olympics have failed to prevent Puma from issuing a profit warning.
The German sportswear company blamed a "slowdown of business, particularly in Europe" for an alert that its net first-half earnings will be 13 per cent below a year ago. This is despite boasting the Spanish football star Cesc Fabregas and Bolt as its poster boys.
Puma believes full-year sales will grow between 3 per cent and 7 per cent, having earlier predicted a near-10 per cent rise.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies