Puma : Share price setback overdone
>Russia - Suspending operations - In line with many other companies, Puma announced it was suspending operations in Russia temporarily. Puma stopped deliveries to Russia and closed their roughly 100 stores in the country. We estimate that Russia accounts for 2-3% of group sales at present. Moreover, we assume that consumer sentiment in Europe will be negatively affected. As a result, we lower our revenue/EBIT forecast by 3%/5% for 2022 but leave our 2023 estimates vi...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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