The German sports brand Puma did good business in the first quarter with the sale of its sneakers, clothing and other items. Turnover rose by almost 20 percent to 1.9 billion euros compared to a year earlier.
Gross profit increased by 27 percent to 196 million euros. Puma, the sponsor of Formula 1 champion Max Verstappen, speaks of a solid start to the new year, despite the headwinds of supply chain disruptions, the war in Ukraine, and the corona lockdowns in China.
The company is sticking to its expectations for the whole of 2022, including a turnover growth of at least 10 percent and a gross profit between 600 million and 700 million euros.
Due to the war in Ukraine, Puma has closed its stores in Russia and has stopped supplying the country.