(Reuters) – German sportswear maker Puma on Wednesday said it expected second-quarter sales to grow at a low- to mid-single-digit percentage rate, below its full-year target, citing high inventory levels and ongoing challenges in the market.
Its revenue rose to 2.19 billion euros ($2.41 billion) in the first quarter from 1.91 billion a year earlier, beating the 2.15 billion expected by analysts, according to Refinitiv Eikon data.
($1 = 0.9103 euros)
(Reporting by Linda Pasquini and Elizaveta Gladun in Gdansk; Editing by Milla Nissi)
