Puma looks for higher sales growth in 2022

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Puma, a German sportswear company, forecasted a currency-adjusted sales increase of at least 10% in 2022 but warned that COVID-19 limits and price inflation would restrict profit growth.

Puma predicts operating earnings of 600 million to 700 million euros in 2022, up from 557 million in 2021, and net earnings to rise in lockstep.

Puma had already posted better than expected early quarterly revenue and earnings in January, with currency-adjusted fourth-quarter sales up 14%.

According to Puma, rising shipping costs, raw materials costs, and COVID-related operational constraints would impact profitability.

Due to COVID-19 constraints and geopolitical turmoil, Puma reported a 5.4 percent drop in fourth-quarter sales in Asia, headed by the Greater China region.

According to the poll, currency markets outperformed fixed income markets in terms of the proportion of trading done through e-channels, which stood at 69 percent. By 2023, FX traders predict this to rise to 85%.

According to rate and credit traders, the amount of trading performed through e-trading channels is expected to rise by 17%.

After the closing on Wednesday, Australian stocks were weaker. The S&P/ASX 200 index was unchanged at the close in Sydney. The volatility of S&P/ASX 200 options, measured by the S&P/ASX 200 VIX, remained steady.

The AUD/USD exchange rate remained steady at 0.7206, while the AUD/JPY exchange rate remained stable at 82.68. The US Dollar Index Futures were trading at 96.112, up 0.10 percent.

While investors continue to comprehend the circumstances in eastern Ukraine, European stock markets rose on Wednesday, aided by largely solid corporate earnings.

In New York City’s Financial District, a new vending machine with unique QR codes for NFTs has appeared. Neon NFT marketplace designed the vending machine.

After yesterday’s selloff, the cryptocurrency market has recovered a little. Its entire market capitalization has climbed 5.8% in the last 24 hours to $1.85 trillion.

Most major coins, including Bitcoin (BTC) and Ethereum (ETH), have recovered as well.

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