PUMA Reports 6.6% Sales Growth in 2023 but Anticipates Challenges Ahead

Despite a successful year, PUMA braces for a difficult first half of 2024 due to geopolitical and macroeconomic uncertainties.

PUMA's sales increased by 6.6% in 2023, reaching €8.6 billion, but faced a 4% decline in the fourth quarter across most product categories.
The company forecasts a 'tough' 2024 with expected EBIT between €620 million and €700 million, amid muted consumer sentiment and volatile demand.
Sales in the Americas and Europe experienced declines in Q4 2023, with significant impact from the Argentinian peso's devaluation.
PUMA plans to launch its first global brand campaign in 10 years to stimulate growth, focusing on sneakers and sportswear.
The sportswear brand warns of a softer first half of 2024, citing negative currency effects and increased competition from smaller brands.