“The third quarter was another good quarter for us with double-digit growth in all regions and strong growth in all product segments. With gross profit margin exceeding our expectations and a continued focus on operating expenses, we were able to deliver a very positive and better than expected operating result (EBIT), stated Bjørn Gulden, Chief Executive Officer of Puma SE, adding: This development in the third quarter combined with a good orderbook for the fourth quarter made us raise the outlook for the full year. We now expect currency adjusted sales to increase between 14% and 16% and the operating result (EBIT) to come in between 235 million euros and 245 million euros.”

In the third quarter of 2017, Puma's sales rose by 17.4% currency-adjusted to 1 121.8 million euros (+13.3% reported), compared to 990.2 million euros in the previous year. All regions supported the sales growth showing a double-digit increase.

Footwear continued to be the main growth driver. Accessories also increased double-digit, while Apparel grew at a more modest rate.

Net earnings rose from 39.5 million euros to 62.1 million euros and earnings per share increased correspondingly from 2.64 euros to 4.16 euros in the third quarter.

Sales for the nine-month period increased by 16.4% currency adjusted to 3 095.6 million euros (+16.0% reported) and were above expectations. All regions showed double-digit growth with Footwear being the main growth driver. Major gains were achieved by the Running and Training and Sportstyle categories.

Including eCommerce, Puma's own and operated retail sales rose by 22.0% currency adjusted to 673.0 million euros. This represents a share of 21.7% of total sales for the nine-month period (20.6% in the previous year). The performance was achieved by positive like-for-like growth in our existing retail stores, opening of new stores and strong growth in our eCommerce business. Net earnings in the first nine months almost doubled and came in at 133.6 million euros (last year: 67.0 million euros). This result translates into earnings per share of 8.94 euros compared to 4.48 euros last year.

In light of the strong third-quarter increase in sales and profitability as well as the positive business outlook for the fourth quarter of 2017, Puma is raising the full-year guidance for its consolidated sales, gross profit margin, operating expenses and operating result (EBIT). The management now expects that currency adjusted sales will increase between 14% and 16% (previous guidance: currency adjusted increase between 12% and 14%).