FRANKFURT: Puma said it aims to reach the 3 billion euro ($4.36 billion) sales mark this year, earlier than expected, as it reported record first quarter sales driven by accessories and growth in the United States.
"We were even able to mitigate the negative impact we saw from the disastrous events in Japan last month as our Asian/ Pacific region contributed with an increase in sales," outgoing Chief Executive Jochen Zeitz said in a statement on Tuesday. Prior to the update, analysts had been expecting the group, the world's number 3 sporting goods maker after Nike and Adidas, to report 2011 sales of about 2.9 billion euros, according to a Reuters poll.
Puma, owned by French luxury group PPR, is aiming to increase sales to 4 billion euros by 2015 under its 'Back on the Attack' strategy.
Sales for the three months to end-March rose 9 percent, adjusted for currency effects, to 773 million euros, while earnings before interest and tax rose 2 percent to 111 million.
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