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Puma Profit Tops Estimates on Soccer Gear, Women’s Sneakers

  • Euro soccer tournment in France lifted brand visibility
  • Company reiterates sales, earnings outlook for the year
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Puma SE reported second-quarter profit that topped analysts’ estimates as the German sneaker maker got a lift from Europe’s soccer championships and a focus on the women’s market.

Earnings before interest and taxes rose to 12 million euros ($13 million), Puma said in a statement Wednesday, beating analysts’ average expectation of 10.6 million euros. Sales rose 7 percent to 827 million euros, compared with the 820 million-euro consensus. The company fought negative currency-conversion effects by keeping a lid on costs.