Puma defies expectations: APAC growth offsets global slump
Puma’s Q1 2024 financial report showed a slight decline in overall sales, yet surpassed market expectations with revenues reaching $2.31 billion (2.1 billion euros), despite facing a challenging economic landscape. The company experienced a modest currency-adjusted sales growth, reporting varied regional results – Europe, the Middle East, and Africa saw a decrease, whereas Asia-Pacific and the Americas achieved modest increases after currency adjustments. In Asia-Pacific, sales were down 4.1% at $502.26 million (456.6 million euros); but with currencies adjusted, the figures reflected a 0.6 percent increase, majorly due to growth in Greater China.