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Business News » World News

Puma raises outlook for third time this year

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Updated: Wed, Oct 18, 2017
07:37 pm
Reuters
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German sportswear firm Puma raised its outlook for 2017 sales and operating earnings for the third time this year on Wednesday as it reported stronger-than-expected sales growth for the third quarter.

In an unscheduled statement, Puma said third-quarter sales rose about 17 percent to 1.122 billion euros ($1.32 billion), compared with an average analyst forecast for 1.091 billion euros, according to Thomson Reuters Smart Estimates.

Puma said it now expected currency-adjusted sales for the full year to rise by 14 to 16 percent, up from a previous 12 to 14 percent, while earnings before interest and taxation (EBIT) are expected at 235 to 245 million euros, up from 205 to 215 million.

($1 = 0.8501 euros)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

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