Sales grew by about 9% in the quarter, following a 53.6% gross margin. However, because of brand investments, or expansion costs, Puma's net income decreased by 2.7% from a year earlier. Overall, Puma raised its fiscal 2008 outlook because of higher sales in emerging markets.
Sales increased by 11%, driven by a 16.6% increase in apparel sales and a 22.9% increase in accessories. However, its net income increased only 0.9% because of increases in operating expenses.
Sales grew by almost 7% during the quarter, following a 1.2% increase in its gross margin. All regions grew in sales except for the U.S., which declined 20.8% in orders during the period.
Fourth quarter sales increased by 10.3% from a year ago, up to €504.5 million (currency-adjusted). For the year, Puma's gross profit margin jumped over 150 basis points to more than 52%.
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