April 24, 2018 / 6:50 AM / 3 months ago

Puma says China powered strong first-quarter sales

BERLIN (Reuters) - German sportswear maker Puma said rising demand in China helped powered a jump in first-quarter sales and earnings, even though the threat of a U.S.-China trade war weighed on its optimism for the rest of the year.

Shareholders of German sports goods firm Puma arrive for the company's annual meeting in Nuremberg April 22, 2008. REUTERS/Michaela Rehle/Files

Puma had already nudged up its 2018 forecasts earlier this month when it reported first-quarter operating profit of 112 million euros ($137 million), up 60 percent, on currency-adjusted sales that were up 21 percent to 1.13 billion euros.

On Tuesday, it said all regions and product segments had contributed to the growth, especially Asia/Pacific, which saw sales leap 35 percent, while running, training and sportstyle were the areas with fastest growth.

($1 = 0.8188 euros)

Reporting by Emma Thomasson; Editing by Tom Sims

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