Wednesday, July 18, 2012
Puma warns on 2012 profit on weak European demand
The slowdown in European spending claimed another victim on Wednesday, with German sportswear maker Puma warning on 2012 profit, saying first-half net profit dropped 13 percent. Photo: PumaPuma is more heavily exposed than larger rivals Nike and Adidas to markets in western Europe, where the region's debt crisis has impacted consumer spending and unemployment among the young people targeted by sportswear makers is high. Puma already put a disappointing first quarter down to wariness among
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