Puma reports decline in first-quarter profit margin
LONDON (Reuters) - Sportswear brand Puma reported a decline in first-quarter profit margin on Thursday and no growth in first-quarter sales as the company cuts costs in an attempt to turn its performance around.
Puma sales of 2.076 billion euros ($2.35 billion) were slightly better than analysts' forecast of 2.041 billion euros, up by 0.1% compared with the first quarter last year.
($1 = 0.8846 euros)
(Reporting by Helen Reid, Editing by Louise Heavens)
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