Puma improves profit despite revenue decline as inventory reduction progresses

Sportswear manufacturer Puma has started the new year with a decline in sales. Performance was impacted by the strong euro and weaker demand in the EMEA region. The company, which is currently undergoing a restructuring, saw its revenue fall by 6.3 percent to almost 1.87 billion euros (2.18 billion dollars), as announced by Puma in Herzogenaurach, Germany on Thursday. On a currency-adjusted basis, the decrease was one percent. Progress was also made in reducing excess inventory.