| CATEGORY: INTERNATIONAL COMPANIES SECTOR: PERSONAL GOODS |
Wed 18 Jul 2012
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 | | LONDON (SHARECAST) - Puma has warned that first-half consolidated EBIT (earnings before interest and taxes) and net earnings would drop about 11 per cent and 13 per cent, respectively, from last year’s levels due to the economic slowdown, particularly in Europe.
The second largest sporting goods maker also cut its 2012 guidance for net sales growth to a “mid single-digit rate” from a “high single-digit rate”.
The company added that annual earnings would be hit by a €100m one-off charge as it attempts to accelerate its “Transformation Program”.
Puma plunged 4.02% to €215.00 in early trading on Wednesday.
JM
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