Sneakers

Puma keeps going up

Puma AG, Europe's second-largest sporting-goods maker, raised its earnings forecast after U.S. sales jumped in the third quarter.

Net income will climb in the ``high single-digit'' percentage range in 2005 from 257.3 million euros ($307 million) a year earlier, Chief Executive Jochen Zeitz told journalists in Paris. Puma previously said the percentage gain would be in the ``mid to high single-digit'' range.

Puma, which has more than tripled revenue in the last four years, generated U.S. sales growth of 63 percent in the third quarter as it won orders for sneakers such as Future Cat and Alpine Trail Racer. Puma and its biggest European rival, Adidas-Salomon AG, are based in the same German town and both expect to benefit from next year's World Cup soccer tournament, which will be held in Germany for the first time since 1974. "

posted by Eugen @ 11:31 PM