German sportswear group Puma on Wednesday said it expected China's coronavi...
FILE PHOTO: The logo of German sports goods firm Puma is seen at the entrance of one of its stores in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger/File Photo
HERZOGENAURACH, Germany - German sportswear group Puma on Wednesday said it expected China’s coronavirus outbreak to hit its sales and profits in the first quarter but it still hopes to reach its targets for 2020. Puma said more than half of its stores in China were temporarily closed and the decline of the Chinese tourism business was also hurting other markets, especially in Asia. Puma generates almost a third of its sales in Asia.
Puma said fourth-quarter sales rose a currency-adjusted 18% to 1.479 billion euros , while earnings before interest and taxation jumped 47% to 55 million, both above average analyst forecasts for 1.43 billion and 52 million respectively. The company said it expected 2020 currency-adjusted sales growth of around 10% and an EBIT of between 500 million and 520 million, as well as a significant improvement in net profit.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Adidas, Puma warn of coronavirus hit to China businessGerman sportswear makers Adidas and Puma both said on Wednesday that the coronav...
Les mer »
China accuses US of hypocrisy over Huawei, highlighting claims it spied on German leader MerkelChina's foreign ministry spokesperson brought up old allegations that the U.S. spied on Germany leader Angela Merkel to accuse Washington of hypocrisy over its claims that Huawei is untrustworthy.
Les mer »
Tesla ordered to halt work on German factory amid anger over chopping down treesEnvironmental activists are concerned by Tesla's plan to chop down trees to clear land for its new Gigafactory.
Les mer »
German far right planned Christchurch-style mosque attacksOfficials say investigations into 12 men detained last week indicate the group planned 'shocking' attacks similar to ones carried out in New Zealand mosques last year that left 51 people dead.
Les mer »
A German court has halted work on Tesla's Berlin Gigafactory over environmental concerns - Business InsiderIn November 2019 Tesla announced plans for a new Gigafactory near Berlin, but has been met with fierce opposition from local environmentalists.
Les mer »
Senior German conservative Roettgen says he wants to be CDU leaderSenior German conservative lawmaker Norbert Roettgen has put himself forward as ...
Les mer »