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Stock impact report

Puma reports slight rise in Q1 sales [Reuters]

Nike, Inc. (NKE) 
Last nike, inc. earnings: 3/24 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.nike.com/home/default.aspx
Company Research Source: Reuters
Currency-adjusted sales rose 0.5% to 2.10 billion euros ($2.26 billion), in line with the 2.1 billion expected by analysts, Refinitiv data showed. Reported sales declined 3.9% from a year earlier, with currencies hitting sales in euro terms by around 100 million euros in the quarter, the company said. The Americas region recorded positive sales growth for the first time in four quarters, the company said, growing by 1.0% to 790 million euros. Puma, which has recently launched new marketing initiatives in an effort to better compete with bigger rivals like Adidas and Nike , has been hit by weaker consumer demand and excess stocks at the sportswear retailers through which it makes most of its sales. Inventory levels in the wholesale channel improved, Chief Executive Arne Freundt said in a statement. While retail partners are still working through elevated stock levels, the company expects an improvement in the second quarter. ($1 = 0.9310 euros) Coming soon: Get the lates Show less Read more
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