Running boom to help Puma recover

A slow start to the year for Puma could be turned around by a running boom.

That's what the German sportswear company said Wednesday (February 24), as it expects the impact of lockdowns to last well into the second quarter.

Chief Executive Bjorn Gulden told reporters he 'clearly sees a running boom in the whole world', with yoga and other outdoor activities also doing well.

Gulden said he was optimistic going forward as orders for 2021 are up almost 30% compared to a year ago.

But there is still uncertainty on when lockdowns in Europe will end.

Half of the stores selling Puma products in the region are presently closed.

The company expects a moderate rise in sales - and a big improvement for its profits against last year.

Puma also plans to release its own app towards the end of 2021.

That could support online sales, which grew 63% in 2020.

Puma's outlook follows its U.S. rival Nike, which in December raised its full-year sales forecast after a surge in demand for outdoor sportswear.

Video Transcript

FRANCIS MAGUIRE: A slow start to the year for Puma could be turned around by a running boom. That's what the German sportswear company said Wednesday, as it expects the impact of lockdowns to last well into the second quarter. Chief Executive Bjorn Gulden told reporters he, quote, "clearly sees a running boom in the whole world," with yoga and other outdoor activities also doing well.

Gulden said he was optimistic going forward, as orders for 2021 are up almost 30% compared to a year ago. But there is still uncertainty on when lockdowns in Europe will end. Half of the stores selling Puma products in the region are presently closed.

The company expects a moderate rise in sales and a big improvement for its profits against last year. Puma also plans to release its own app towards the end of 2021. That could support online sales, which grew 63% in 2020. Puma's outlook follows its US rival Nike, which, in December, raised its full-year sales forecast after a surge in demand for outdoor sportswear.