Puma reports strong sales

German sportswear company Puma reported a 26% jump in first-quarter sales despite ongoing coronavirus lockdowns, supply chain issues and consumer backlash facing Western brands in China over their comments on Xinjiang.Puma said sales came in at 1.549 billion euros (US$1.87 billion), while net profit jumped to 109 million euros, both above average analyst estimates.In March, Western brands including Puma and rivals Nike and Adidas faced online attacks in China over statements regarding their sourcing of cotton in Xinjiang after reports of the use of forced labour by Uighur Muslims.Puma said that sales in the Asian region jumped 29% in the first quarter, led by Greater China. However, it did note that "recent political tensions in key markets" are leading to increased uncertainty in the industry.Puma has previously said it has no direct or indirect business relationship with any manufacturer in Xinjiang.Western governments and rights groups have accused authorities in the far western region of detaining and torturing Uighurs in camps. Beijing denies the accusations.Puma noted that about 30% of stores selling its products in Europe and Latin America were still closed due to Covid-19, while it saw new restrictions in places such as India, Canada and Turkey so the pandemic will continue to curb its business throughout 2021.- Nampa/Reuters

Puma reports strong sales

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Republikein 2026-05-15

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Puma reports strong sales

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