Stories from Herzogenaurach · Germany

Puma reported a 20 percent increase in earnings before interest and taxes (EBIT) for the first quarter. The company's EBIT rose to nearly 52 million euros during this period. Despite the profit growth, Puma's revenue decreased by 1 percent. The company stated during a quarterly report press conference that its restructuring and reform phase is progressing well. Revenue decreased by 1 percent during the same period. The report was issued from Herzogenaurach. Chief Financial Officer Markus Neubrand stated the company is on a good path, noting that the reduction of inventory levels has exceeded expectations. Puma expects a single-digit percentage decline in revenue for the remainder of the year.

Adidas expressed optimism regarding its second quarter performance during a press conference. The company noted that previous investments in inventory are now yielding results.