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Puma touted the growing demand for its retro terrace-style range in a post on Wednesday. 1st quarter revenue Although the results were in line with analysts’ expectations, the stock price still soared.
The German footwear giant’s net profit and earnings per share fell in the three months ended March 31, but sales in the Americas rose for the first time in four quarters.
Puma also said margins improved “despite major currency headwinds.” USD cause EUR This year it will be weaker.
CEO Arne Freund pointed out at a press conference that demand for Palermo, which was commonly worn on European soccer terraces in the 1980s, is increasing.
Puma relaunched its footwear line last year, featuring high-profile celebrities including pop superstars. dua lipa and Manchester City FC winger Jack Grealish To promote retro shoes.
“We’ve only been working with Palermo for six months, but we can see how the franchise continues to go from strength to strength,” Freund said.
The surge in demand for the Samba, a similar terrace-style shoe sold by Adidas, was one of the defining fashion stories of last summer, but rival Puma has recently stepped in to prevent the brand from becoming a casualty. announced that it will work to manage demand. A success in itself.
Adidas Samba was popular last summer. Edward Berthelot/Getty Images
Last month, British Prime Minister Rishi Sunak was widely ridiculed for wearing a samba to a press conference, leading some Britons to conclude: the trend is over.
Adidas CEO Björn Gulden, responding to a question about Sunak’s footwear choices during an earnings call last week, said, “Anyone in the world can wear our products, and if they wear them.” I would be happy if you gave it to me,” he said.
Puma shares listed in Frankfurt, has soared more than 12%, wiping out this year’s losses and valuing the company at about $8 billion.
But that pales in comparison to Adidas, which is worth about $43 billion after its stock has risen 22% so far this year.