Home / BUSINESS / Celebrity glamour powers Puma profit

Celebrity glamour powers Puma profit

German wearing items maker Puma reported Tuesday jumping income inside the 0.33 quarter after celeb tie-ins from companions like Rihanna and Usain bolt fired sales.

Net profit reached sixty two million euros ($73 million) among July and September, fifty seven percentage better than the equal duration ultimate 12 months, the Bavaria-based firm suggested.

The end result with ease outperformed predictions from analysts surveyed by way of monetary records company Factset.

Puma’s performance become even stronger over the primary nine months, with internet income doubling in comparison with ultimate year to 134 million euros.A



The company with the pouncing cat brand launched some 0.33-zone outcomes early ultimate week, saying surging revenues and earnings brought on it to increase its forecast for the overall year.

Puma now expects to make between 235 and 245 million euros in operating income this year, nearly double 2016’s figure.

Sales at the firm swelled inside the past three months, juiced by means of bolt’s final competition appearances on the Iaaf global championships in london and Rihanna’s fourth puma collaboration staggering crowds at ny fashion week.

Puma, a subsidiary of sports and luxury organization Kering, additionally partnered with us singer and actresSelena Gomez in the third sector.