BERLIN (Reuters) – Germany’s Puma (PUMG.DE: Quote, Profile, Research, Stock Buzz) is banking on this summer’s World Cup soccer tournament and a renewed focus on its technical sportswear to counter currency effects that prompted the company to trim its profit margin forecasts on Wednesday.
Early sales of shirts for the eight teams Puma is sponsoring at the World Cup – including Italy, Chile and Ghana – helped to slow sliding sales in the first quarter. But like many European businesses that rely on overseas sales in foreign currencies, Puma’s profitability is being squeezed by the relative strength of the euro.
BERLIN/PARIS, May 13 (Reuters) – Marks & Spencer Plc
is making a new push to expand abroad, hoping e-commerce will
give Britain’s biggest clothing retailer a better chance to
succeed than earlier attempts to enter new markets.
It is one of several retailers that are using expertise
developed in the UK’s fast-growing e-commerce market to expand
overseas. Store chains like M&S are starting to emulate the
success of online-only fashion players like ASOS.