IMTERVIEW-Puma says on track to meet savings targets
PARIS, June 4 (Reuters) - German sports goods company Puma (PUMG.DE: Quote, Profile, Research) on Thursday said retailers were still cautious about buying stock and added that it was on track to meet its savings targets driven by its restructuring.
Puma Chief Executive Jochen Zeitz told Reuters in an interview: "On an annualised basis, next year we should be able to reach that target (of a 150 million euros ($212.5 million) in savings)... assuming everything stays the same."
He said he expected the trading environment to remain challenging for the forseeable future.
French retail and luxury group PPR (PRTP.PA: Quote, Profile, Research) owns just over 68 percent of Puma. ($1=.7058 Euro)
(Reporting by Astrid Wendlandt, Editing by Sudip Kar-Gupta)
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