With slightly better sales than expected and good response on its new marketing initiatives, Puma reported net income fell 45% to €28.0 million ($32.4 mm) compared to €52.7 million as sales rose 4% to €843.4 million ($1,054.3 mm) from €813.1 million for the quarter ended Sep. 30. The Big Cat noted that sneaker sales were positive currency neutral for the first time in seven quarters, but it acknowledged that repositioning Puma will still take some time.
Puma said is was especially pleased with the progress the brand has made in the U.S. market, noting that it now had Puma Labs in the US.
