Business

Puma raises 2021 outlook, prompted by strong Q2

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The logo of German sports goods firm Puma is seen at the entrance of one of its stores in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger/File Photo

BERLIN, July 16 (Reuters) - German sportswear company Puma (PUMG.DE) raised its 2021 sales outlook on Friday, boosted by strong second quarter demand, especially in North America.

Puma said it now expects 2021 currency-adjusted sales to rise by at least 20%, up from its previous forecast of mid-teens sales growth for the year.

It also specified full-year operating profit guidance, now expecting earnings before interest and taxes (EBIT) between 400 and 500 million euros ($472-590 million).

Second quarter currency-adjusted sales nearly doubled to 1.589 billion euros and EBIT swung to a profit of around 109 million euros, Puma said.

($1 = 0.8472 euros)

Reporting by Riham Alkousaa; Editing by Maria Sheahan

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