PUMA has published its Q2 21 results, in line with the preliminary release.
The robust growth in North America and gradual recovery in EMEA have led the top line to exceed the 2019 level. The trading performance in China has been affected by the “boycott over Xinjiang cotton”, sales slid 5% yoy. The gross margin has significantly improved from last year, despite supply chain constraints.
However, on the back of the strong quarter, the conservative guidance for FY21 leaves some shadow.
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Cautious outlook
PUMA has published its Q2 21 results, in line with the preliminary release.
The robust growth in North America and gradual recovery in EMEA have led the top line to exceed the 2019 level. The trading performance in China has been affected by the “boycott over Xinjiang cotton”, sales slid 5% yoy. The gross margin has significantly improved from last year, despite supply chain constraints.
However, on the back of the strong quarter, the conservative guidance for FY21 leaves some shadow.