Puma: Challenging Sportswear Environment, But Reassuring Results

Jun. 17, 2023 1:22 AM ETPUMA SE (PUMSY) StockPMMAF, PUMSY1 Comment
Mare Evidence Lab
5.77K Followers

Summary

  • Puma's stock price has underperformed, but the company's growth strategy and expansion in China show promise.
  • Q1 2023 revenue reached €2.19 billion, a 14% growth, with China delivering +10% revenue and expectations to be above guidance.
  • Puma's valuation remains attractive compared to peers, trading at lower multiples with a high single-digit sales growth and EBIT of €590 million to €670 million for 2023.
exterior facade of PUMA store at night

Robert Way/iStock Editorial via Getty Images

Following our analysis called Puma: "Long-Term Story Intact", today we are back to deep-dive into the company's latest developments. Puma's stock (OTCPK:PMMAF, OTCPK:PUMSY) price has not performed according to our expectations, and we still believe this is

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