Puma Raises Outlook Despite Supply Challengeson October 27, 2021 at 5:12 pm

German sportswear company Puma increased its 2021 sales outlook on Wednesday even as it highlighted supply-chain pressures from a coronavirus lockdown in Vietnam, port congestion, and container shortages. Emer McCarthy reports. German sportswear giant Puma increased its 2021 sales outlook on Wednesday (Oct. 27) despite lingering supply-chain pressures. Factories in Vietnam, a major supplier to the footwear industry, have been closed due to the global health crisis, and factory owners have said they only expect to fully resume operations from the second half of next year. Puma Chief Executive Bjorn Gulden said the company was also having to cope with port congestion and shortages of container ships that are pushing up freight costs, along with a, quote, “very difficult market situation” in China. Third-quarter sales rose a currency-adjusted 20.4 percent to $2.21 billion while operating profit also jumped well ahead of forecasts. Rival Nike cut its fiscal 2022 sales expectations …

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UK’s Sunak Pledges Major Increase in Public Spendingon October 27, 2021 at 5:12 pm

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