Bjørn Gulden, Chief Executive Officer of Puma SE stated: “Puma’s sales in the third quarter developed as expected with growth in all product categories. I am happy to see that our footwear category has increased for the fifth quarter in a row. I am especially pleased to see that also the sell-out at retail to the end consumer is continuously improving in all categories”.

Volatile currency trends in some markets and the weakness of the euro, especially towards the US dollar, continue to put pressure on the company’s results, its gross profit margin, OPEX and net earnings. Despite that, in the third quarter of 2015 Puma’s consolidated sales totaled 914.4 million euros, representing an increase of 3.1% currency adjusted. In reported terms, the growth versus last year was 8.4%.

In the third quarter, sales in the EMEA region (Europe, Middle East, and Africa) declined slightly by 3.6% currency adjusted to reach 375.7 million euros. Growth in the Americas continued, with North and Latin America both showing strong performances, with sales up by 10.8% currency adjusted (325.1 million euros). The United States were one of the key growth drivers with sales increasing double-digit. In Asia/Pacific (APAC), sales were up by 5.0% currency adjusted (213.6 million euros). While China and India showed substantial growth within the region, sales in Korea declined.

Footwear continued to grow following the last quarters’ trends and continues to be the main driver of Puma’s total increase in net sales, which totaled 408.4 million euros (+3.5% currency adjusted). In the Apparel and Accessories segment, sales grew by 2.5% and by 3.7% currency adjusted, respectively, totaling 346.9 million euros and 159.1 million euros.

Net earnings of the third quarter amounted to 20.0 million euros (compared to 28.9 million euros in the third quarter last year).

In the period from January to September 2015, consolidated sales developed in line with Puma’s expectations, rising by 4.9% currency adjusted and totaling 2 508.5 million euros. In reported terms, the increase is significantly higher at 12.9% as major currencies, in particular the US dollar and the Chinese renminbi, strengthened against the euro.

In the EMEA region, sales were flat and in the Americas the highest growth among the regions was registered (+9.4% currency adjusted). Sales in Asia/Pacific were strong rising 7.2%, supported by the positive development in China and India, while sales in Japan were more muted.

Footwear was the best performing segment in the first nine months, showing an increase of 8.6% currency adjusted to 1 145.3 million euros. Apparel rose by 2.6% currency adjusted and accessories increased slightly by 0.6% currency adjusted.

Net earnings for the first nine months reached 41.5 million euros compared to 68.6 million euros in the previous year.