Stifel analyst Cedric Lecasble said a share buyback could be one way for Puma to boost investor sentiment. Puma makes most of its sales through retail partners, though revenue from its own stores has grown. The devaluation will continue to weigh on profitability in the first half, Puma said. Overall, Puma's footwear sales grew by 12.4% in 2023, while clothing sales dipped 0.3% as shoppers prioritise shoes. Puma reiterated its 2024 forecast for mid-single-digit percentage growth in currency-adjusted sales, and earnings before interest and tax of €620m to €700m.

Source: Irish Examiner February 27, 2024 17:53 UTC