Global TradeInternational News

Puma shares fall as analysts flag possible Q3 disappointment

Listen to this Article Now

 Shares in Puma (PUMG.DE) fell 7.8% on Thursday after analysts said the sportswear company’s third quarter earnings might fall short of market expectations.

Analysts at Stifel said Puma’s third quarter earnings before interest and tax might decline by a low double-digit rate compared to last year, a worse performance than consensus expectations for a 6% decline.

Puma said it was fully on track to achieve its full-year guidance, while declining to comment on its share price movement. Adidas (ADSGn.DE) shares also fell, by 2.7%.

SOURCE : REUTERS (Reporting by Linda Pasquini in Gdansk, Danilo Masoni and Helen Reid in London, Alexander Huebner in Munich; Editing by Susan Fenton)