# Puma confirms full-year outlook, flags market volatility
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-10-26
Category: Uncategorized
Category URL: https://financedigest.com/category/uncategorized
Meta Title: Puma Shares Fall 1.75% on Global Market Uncertainty
Meta Description: Puma shares dropped 1.75% after confirming full-year outlook amid global market uncertainty. CEO expresses confidence in meeting 2022 goals.
URL: https://financedigest.com/puma-confirms-full-year-outlook-flags-market-volatilityhtml

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By Alexander Hübner and Joice Alves

BERLIN/LONDON (Reuters) – Shares in Puma fell 1.75% on Wednesday after the company confirmed its full-year guidance but flagged uncertainty in the global market.

The German sportswear maker reiterated its full-year operating result and sales outlook, after what it said was the best third quarter in its history.

We expect [continued volatility in the market](https://www.financedigest.com/uk-housing-market-weakness-continues-improvement-on-the-horizon-rics.html "UK housing market weakness continues, improvement on the horizon – RICS") during the fourth quarter but are confident that we can deliver according to our full-year outlook,” said Puma Chief Executive Bjorn.

The company said its earnings before interest and taxes (EBIT) rose by 12.6% on the year to 258 [million euros](https://www.financedigest.com/amazon-grants-1-5-million-euros-to-dutch-seaweed-farm-project.html "Amazon grants 1.5 million euros to Dutch seaweed farm project") ($257 million) while third-quarter sales rose a currency-adjusted 16.9% to 2.35 billion euros ($2.34 billion).

Improved product availability due to a more stable [supply chain](https://www.financedigest.com/eliminating-payment-barriers-the-future-of-supply-chain-payments-is-digitization.html "Eliminating Payment Barriers: The Future of Supply Chain Payments is Digitization"), better than expected sell-through and Puma’s continued global brand momentum overcompensated all the negative external factors,” Gulden said.

[Despite continued effects of COVID-19-related lockdown measures in China](https://www.financedigest.com/bentley-cruises-to-record-sales-in-2022-despite-china-drop.html "Bentley cruises to record sales in 2022 despite China drop"), Puma saw sales growth in the Asia/Pacific region in the third quarter, it said.

The company expects currency-adjusted sales growth of around 15% and an EBIT between 600 and 700 [million euros](https://www.financedigest.com/iag-agrees-to-buy-80-stake-in-air-europa-for-400-million-euros.html "IAG agrees to buy 80% stake in Air Europa for 400 million euros") for 2022.

Jefferies equity analysts said Puma’s results have proven resilient “in a worsening industry contest” after recent [profit warnings](https://www.financedigest.com/bootmaker-dr-martens-warns-on-profit-as-finance-chief-walks.html "Bootmaker Dr Martens warns on profit as finance chief walks") from competitors Nike and Adidas highlighting excess inventories across the industry.

Last week, German sporting goods [maker Adidas cut](https://www.financedigest.com/lighting-maker-signify-cuts-2022-outlook-again-on-china-business-lighting.html "Lighting maker Signify cuts 2022 outlook again on China, business lighting") its full-year guidance, citing weaker expectations for China, lower demand in major Western markets and one-off expenses related to its exit from the Russian market.

($1 = 1.0029 euros)

(Reporting by Alexander Huebner and Joice Alves, Writing by Miranda Murray, editing by Paul Carrel and Bernadette Baum)


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