Puma Posts Drop In Q3 Profit

Puma reported weaker-than-expected third-quarter results. Puma's quarterly sales in the EMEA region fell 3.4% to 396.7 million euros ($514.3 million), while overall sales gained 6% to 892.2 million euros. Its net profit dropped 85% to 12.2 million euros. However, analysts were expeting a net profit of 36.4 million on sales of 906 million euros.