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Puma hikes sales outlook despite supply challenges -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The entrance to one of Puma’s stores in Vienna (Austria), March 18, 2016 shows the logo. REUTERS/Leonhard Foeger

BERLIN (Reuters). BERLIN – Puma, a German sportswear manufacturer, increased its outlook for 2021 on Wednesday despite warnings that a Vietnamese coronavirus lockdown and port congestion were threatening its supply chain.

The third quarter sales increased by 20.4% in currency terms to 1.9 billion Euros ($2.21 Billion). Operating profit rose to 229 Million euros which is well above average analyst predictions.

Puma now anticipates that full-year currency adjusted sales will rise by at least 25%. The company also expects to see operating profit of between 450 million to 500 million euros. This compares to the 400-500million it had previously.

($1 = 0.8593 euros)

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