Puma CEO says focusing on profits, not sales
FRANKFURT (Reuters) - Puma stuck to a target for sales of 4 billion euros ($5.2 billion) by the end of 2015, but said its current focus was more on profits as it battles weak consumer spending.
"We have said before that we believe the 4 billion euros by end 2015 is ambitious, yet still realistic from today's perspective," Chief Executive Franz Koch told journalists after the group on Wednesday reported an 85 percent slump in third-quarter net profit.
"The short-term focus is on profitable and sustainable growth. We will not grow at any price," he added.
($1 = 0.7714 euros)
(Reporting by Victoria Bryan)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.