Puma SE: Experts Evaluate Fundamentals Highly Differently - Price Targets Between €19.10 and €60.00

On May 8, Puma SE presented its report for the first quarter. Accordingly, the revenue increased slightly by 0.1% to €2.076 billion when adjusted for currency effects. In the reporting currency Euro, revenue decreased by 1.3%. The Direct-to-Consumer business, particularly the e-commerce segment, saw growth of 12%, while wholesale revenue fell by 4%, mainly due to weaker demand in the USA and China. The gross margin decreased by 60 basis points to 47.0%, driven by unfavorable exchange rate effects and higher inventory valuations. Operating expenses...