Germany's Puma forecasts high single-digit sales growth for FY23

In an optimistic outlook for the year's close, Puma expects to see enhanced profitability. This improved financial performance is primarily expected to stem from a sequential improvement in the gross profit margin. The company credits these anticipated improvements to decreased sourcing and freight costs, which are predicted to lower operational expenses, thus bolstering profitability, Puma said in a press release.

“Our strategic priorities brand elevation, winning in the US and China are key for PUMA’s future growth trajectory. We are making good progress on all levels, and with the announcement of new leaderships for global marketing and Mainland China, we have put the required organisational foundation in place,” said Arne Freundt, chief executive officer of Puma.

Fibre2Fashion News Desk (DP)