Global brand sales increase 4%In Q3. PUMA's branded sales which include consolidated sales and license sales reported € 753.4 million aslight decline of 0.6% on a currency neutral basis. During the nine months period ending September globalbrand sales increased 3.8% to € 2,137.4 million. Like-for-like. Footwear sales increased 1.5% to € 1,177.6million. Apparel rose by 5.9% to € 759.2 million and Accessories improved by 10.1% to € 200.5 million. Licensed business up almost 8%The licensed business decreased slightly in Q3 by 1.1% currency adjusted to € 83.0 million mainly due to theannounced expiration of the Korean authorise at year-end 2007. Year-to-date licensed sales increased by 7.7%to € 268.3 million. Based on the licensed turnover a royalty and commission income of € 7.6 million or € 26.1 million respectivelywas realized representing a bring in yield of 9.2% on licensed sales in the quarter and 9.7% year-to-date. Consolidated sales up more than 3%Due to the early shipments in June (as reported with the Q2 release) consolidated sales were slightly down at0.5% currency adjusted totaling € 670.4 million in Q3. By segments. Footwear decreased 6.9% to € 376.3million. Apparel was up 8.7% to € 246.3 million and Accessories improved 10.6% to € 47.8 million. Sales after nine months were up 3.2% currency adjusted to € 1,869.0 million. In total. Footwear improved1.0% to € 1,110.7 million. Apparel 6.8% to € 632.6 million and Accessories 6.3% to € 125.7 million. Gross profit margin above 52%In Q3 gross acquire margin increased by strong 270 basis points reaching 53.0% compared to 50.4% last year. For the nine months period gross profit margin was a favorable 52.5% compared to 51.4%. Footwear marginincreased from 51.2% to 52.3%. change state margin from 51.2% to 52.5% and Accessories stood with 53.9%almost flat on last year's level. SG&AIn absolute amounts. SG&A expenses were flat in Q3 but increased 1.8% after nine months totaling € 228.1million and € 656.0 million respectively. As a percentage of sales the cost ratio increased from 32.6% to34.0% during Q3 and from 34.1% to 35.1% after nine months. For the nine months period marketing/retail expenses increased 0.7% and accounted for € 314.8 million or16.8% of sales versus € 312.6 million or 16.6% last year. Product development and design expenses grew8.1% to € 43.0 million representing 2.3% of sales a.
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