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Puma CEO: Delivery delays will last 4Q, 1Q

By Ulrike duration

FRANKFURT (Dow Jones) – Puma boss Björn Gulden expects the delivery delays, which affect the entire industry, to continue in the fourth quarter as well as in the first quarter of the new financial year. The reasons are the longer than expected lockdown measures in South Vietnam – which lasted until mid-October – as well as delivery bottlenecks due to port congestion and a shortage of containers. The production delays from July to mid-October had not yet reached the market, the goods currently in stores had already been produced in the first or second quarter, said Gulden in the media conference call after the results for the third quarter were presented. He reckons that some shelves in the shops could remain “emptier than desired” during the pre-Christmas shopping season – gifts intended for Christmas should best be bought now.

However, further diversification of the supply chain is not an issue for Puma, according to Gulden. Strategically, Puma sources a third of its goods each from China, Vietnam and other markets in Asia such as Bangladesh, Cambodia and Indonesia. One does not want to move away from this, but will increase the capacities in the short term in the markets outside of Vietnam, said Gulden.

Contact the author: ulrike.lä[email protected]; @UlrikeDauer_

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October 27, 2021 04:52 ET (08:52 GMT)

Reference-www.finanzen.at

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