German sportswear brand Puma said on Monday it expects to increase its operating profit by another third in 2018 and lift sales by 10 per cent.
The sportswear giants also predicted a recovery in football sales even after top team Italy failed to qualify for the 2018 FIFA World Cup.
Puma, still far behind German rival Adidas and leader Nike in terms of market shares, has revived its fortunes in recent years by spending heavily on sponsoring top football teams.
Puma saw its shares tumble last month after French parent Kering said it would spin off the brand to its shareholders.
Chief Executive Bjorn Gulden said on Monday he still expects Kering and France’s Pinault family, which controls Kering, to remain long-term shareholders.
In spite of the fact that Italy, whose kit Puma provides, will not play at the World Cup, Gulden said he was confident Puma’s football sales would…
Read More…..Vanguard Newspaper
