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FRANKFURT (Reuters) – On November 9, Puma Corporation revealed that its third-quarter operating performance dropped by 21.6% to 98 million euros, falling short of analyst expectations of around 101 million euros. The company also warned that the final quarter of this year will be challenging, citing ongoing market pressures and a sluggish global economy. However, Puma’s leadership remains optimistic about the future, particularly with the upcoming FIFA World Cup in South Africa next year.
The World Cup is expected to provide a significant boost to the brand, as Puma has long maintained strong ties with African football. "We believe the World Cup will help kickstart our recovery," said Puma’s president. "Our deep connection with African football means we are well-positioned to benefit from the event."
Puma, the third-largest sports apparel manufacturer in the world after Nike and Adidas, reported a 6.3% decline in sales to 673.4 million euros when adjusted for exchange rate fluctuations. Despite these challenges, the company continues to invest in key markets and product innovation, aiming to regain momentum in the coming years.
With the World Cup on the horizon, many are watching closely to see if Puma can leverage the global event to turn its fortunes around. For now, the road ahead remains uncertain, but the company is hopeful that the right strategies and partnerships will lead to a stronger performance in 2010.