It has just been reported that PUMA has suffered a €3.3 million EUR net loss for the second quarter (April-June), mainly because of the strong currency fluctuations that are ongoing right now, especially the USD. Another factor that has caused the net loss is the increase in spending on marketing efforts.
Puma also has good news to report as is has also recorded a larger portion in profits than its biggest rivals in South America and Russia. They have also seen its shares rise as much as 3%. CEO Bjorn Gulden stated that “Investment in new and innovative products is starting to pay off,” when discussing the 16.2% rise in currency adjusted sales in its footwear sales. Adding Rihanna as a creative director could also benefit Puma in the near future since she will also be able to bring a different consumer base to Puma. Here’s to Puma having a better quarter this time around.