Puma shares rose 6.4% after Q1 earnings surpassed estimates and outperformed Adidas's gains.
Puma shares rose 6.4% after reporting Q1 earnings that topped analyst estimates and surpassed their rival Adidas's 20% year-to-date gains. Demand for Puma's retro terrace-style shoes has helped boost sales of sportswear brands like Puma and Adidas amid weaker consumer demand and excess stocks. The German brand's first-quarter sales met expectations, rising 0.5% to €2.1bn, driven by a return to growth in the Americas region.
May 08, 2024
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