Clothing & ShoesNews
Puma sales dip in 2023 due to Argentinian peso devaluation
The sportswear company admitted that the peso devaluation and its hyperinflationary accounting treatment led to a significant gap between the underlying operating performance and the recorded financial performance
Puma achieved full-year currency-adjusted sales growth of 6.6%, with preliminary 2023 sales of €8.6bn (£7.3bn) due to the devaluation of the Argentinian peso by 54% in December 2023.
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