Puma Profit Falls Less Than Anticipated Amid Refocus
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Puma SE, the German sports-gear maker trying to effect a turnaround, reported better-than-expected second-quarter profit on sales of colorful soccer shoes and cost control.
Earnings before interest and taxes tumbled 60 percent to 12.6 million euros ($16.9 million), Puma said in a statement. That beat the average 10.2 million-euro average estimate of analysts surveyed by Bloomberg. Sales fell 6 percent to 652.2 million euros for the period ended in June, compared with the average 657.6 million euro estimate.