Puma raises outlook for third time this year

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.)