Puma : Q3 2018 better than forecast and guidance upgraded
>Q3 2018 higher than forecast, sales at 13.9% cc (vs Oddo 11.2% cc) and operating margin at 10.5% (Oddo 9.5%) - Q3 2018 sales (€ 1 242m, +13.9% cc) came in 2% ahead of consensus estimates. Organic growth was also higher than anticipated (Oddo at 11.2% cc and consensus 10.9%). The gross margin came to 49.6% (+150bp), 4% higher than the consensus. Operating profit came in at € 130m (vs Oddo at € 120m and consensus € 122m), 7% ahead of the consensus, with an operating ma...Puma and its subsidiaries are engaged in the development and sale of a broad range of sports and sports lifestyle products, including footwear, apparel and accessories. Product management, design, development and category-specific marketing have been combined under six separate Business Units. The Business Units Teamsport, Running, Training & Fitness, and Golf represent Co.'s performance business, while Lifestyle and Motorsports, Fundamentals as well as Accessories & Licensing constitute the lifestyle business.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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