Puma finds home in the Big Apple and confirms record results
The footwear, accessories and apparel giant Puma has opened the doors to its new Soho concept store in New York.
Opened last week, the 521 Broadway store is a two-level, 6000 square foot emporium and is the latest in a series of high profile retail openings for Puma that has already taken in San Francisco, Tokyo, Paris and Santa Monica.
Puma's New York City venue will showcase all the company´s leading products as well as sport couture items from its Nuala and Platinum collections. The store is an architectural evolution from the loft-design concept of its predecessors, signalling a shift to a more modernistic approach where products are presented in clean and minimalist surroundings. The assortment of products offered is seen as a perfect complement to New York´s unique style, Puma says, and well as the city’s cultural diversity.
Puma says that despite the turbulent retail environment, it is anticipating a sales growth of over 26%, as well as a more than doubled pre-tax profits, which are expected at over $52 million, with earnings per share of at least $2.10. These results follow the gain in momentum experienced by the brand in the marketplace and will significantly top the company's previous pre-tax revenue record, set in 1997 ($37 million).
"We are very pleased to end a very successful year with a strong brand statement in New York City," said Jochen Zeitz, CEO and Chairman of Puma AG. "This year is especially significant, as Puma is set to achieve record results, which is only the beginning of what the Puma brand is positioned to accomplish in the coming year."
