:German sportswear maker Puma on Wednesday gave a forecast for 2023 profit with a midpoint below last year's number, expecting some impact from currency effects and higher freight and raw material costs.Rising materials and freight costs along with a stronger U.S. dollar, inventory markdowns and higher promot
:German sportswear maker Puma on Wednesday gave a forecast for 2023 profit with a midpoint below last year's number, expecting some impact from currency effects and higher freight and raw material costs.
The company forecast annual operating profit in a range of 590 million to 670 million euros , with currency-adjusted sales expected to grow in a high-single-digit percentage rate. The guidance midpoint of 630 million euros compares to EBIT of 641 million euros Puma reported for 2022, which was up 15 per cent from 2021 but slightly below analysts' estimate of 644 million euro in Refinitiv Eikon data.
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Puma sees 2023 profit at about last year's level as costs weigh:German sportswear maker Puma on Wednesday gave 2023 operating profit outlook with midpoint below last year's level, as it expects currency effects and higher freight and raw material costs to again weigh on profitability.Rising materials and freight costs as well as stronger U.S. dollar, inventory markdowns
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