PMMAF - Puma SE stock sinks on revenue miss

Puma SE (OTCPK:PMMAF) (OTCPK:PUMSY) stock is sliding after releasing an earnings point that could not reach revenue expectations. The German apparel and footwear manufacturer reported GAAP EPS of €0.81 against revenue of €1.91 billion on Wednesday morning. While revenue reports reflected a 24% jump from the prior year, analysts had anticipated a print €70 million higher. Additionally, gross profit margin declined to 47.2% from 48.5% in 2021. Still, the company courted optimism by reporting strong sales growth and earnings before interest and taxes (EBIT) that improved by 27% to start 2022 and came in above estimates. Further, management pointed to sticky COVID-driven demand for running shoes and athleticwear as running becomes more popular and casualwear becomes office appropriate as work-from-home trends persist. "We see that sports participation has grown again during COVID and also after COVID," Chief Executive Bjorn Gulden told a news conference after the results. He added that

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Puma SE stock sinks on revenue miss