Puma sees 2023 profit at about last year’s level as costs weigh
Inside Retail
MARCH 1, 2023
Rising materials and freight costs as well as stronger US dollar, inventory markdowns and higher promotion expenses have put pressure on margins in the sporting goods sector. Puma had guided for 2022 EBIT in a range of 600 million to 700 million euros. Gross profit margin decreased by 420 basis points to 44.0
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