Puma announces turnover down 8.7% in 2013 to €3 billion

The German brand Puma, which belongs to the French Kering group, announced their turnover is down 8.7% in 2013 to €3b, on 20/02/2014.

Sales in the EMEA region (Europe, Middle East, Africa) fell 4.4% (€1.22b). Puma says that the performance has been weak in the "French and Italian markets, partially offset by a strong performance in the UK." Sales also fell by 4% to €711m in the Asia-Pacific region, and decreased slightly by 0.7% to € 1.06 billion in the "Americas" region.

Selling shoes is the most important sector of sales for the brand at €1.37b euros in 2013. This amount has declined 8.6% year on year. Clothing sales fell slightly by 1.2% to €1.06b. Accessories sales have continued to increase by 9.7% to €549m.

Puma's gross margin in fiscal year 2013 decreased from 48.3% to 46.5%. The brand also announced it will continue its program of cost reductions initiated in 2013. 73 stores were closed in 2013 and 18 further closures are planned for 2014. The company also removed six warehouses across Europe in 2013.

• Puma put an end to marketing partnerships and non-viable sponsorships…