Analysis Report Puma

  Puma SE • Friday, 05/11/2012

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Puma
 SE
 is
 one
 of
 the
 world’s
 biggest
 and
 leading
 sportlifestyle
  companies.
 It
 is designing
 and
 developing
 footwear,
 accessories
  and
 apparel.
 Their
 products
 are
 not
 only
 about
 Sport,
 but
 also
  about
 Fashion.
 
 The concern
 provides
 in
 their
 stores
 and
 online
  stores
 shoes,
 clothing,
 accessories
 and
 equipment,
 which
 include
  categories
 such as
 Soccer,
 Running,
 Motorsport,
 Golf
 and
 Sailing.
  Puma
 is
 
 also
 for
 example
 the
 official
 supplier
 of
 five
 European
  national teams
 (including
 Italy,
 Austria,
 Switzerland,
 Bulgaria
  and
 Czech
 Republic)
  The
 first
 quarter
 of
 2012
 was
 not
 that
 excellent for
 Puma
 SE.
 The
  cross
 profit
 margin
 has
 reduced
 from
 52.4%
 to
 51.2%
 in
 the
 first
  quarter.
 The
 cross
 profit
 margin of
 shoes
 has
 reduced
 from
  51,3%
 to
 49.5%;
 of
 textiles
 from
 53.7%
 to
 53.5%
 and
 of
 the
  accessories
 from
 54.0%
 to 51.9%.
 That
 reduction
 is
 the
 most
  important
 reason
 for
 the
 decreasing
 operative
 result
 (from
 111.0
  million
 to
 102.0
 million Euros
 in
 the
 first
 quarter).
 Also
 the
 profit
  before
 taxation
 decreased
 in
 the
 first
 quarter
 from
 110.8
 million
  Euros
 to 103.1
 million
 Euros.
 The
 consolidation
 profit
 shrank
 by
  4.9%
 to
 73.9
 million
 Euros.
 Consequently
 the
 earnings
 per
 share...