Puma's profit stamina is running out
Thursday 19 July 2012
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.
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