Puma sprints to record Q2 sales

German sportswear maker Puma sprinted to record sales in the second quarter, driven by strong growth in running shoes and robust demand from Latin America and Asia.

Puma, whose shoes are worn by world's fastest man Usain Bolt, confirmed its target to grow sales to more than €3 billion($4.4 billion) this year.

It said it still expected profit to rise by a mid single-digit percentage, despite higher raw material and wage costs.

Larger rivals Nike and Adidas have also warned of higher costs and announced price rises for their products.

The results come as boss Jochen Zeitz hands over the reins after 18 years to Franz Koch. Zeitz has taken up the role of head of sport and lifestyle at French luxury goods group and Puma parent PPR .

"I could not have asked for a better start to my new position as Puma's CEO than to announce the best second quarter in Puma's history in terms of sales," said Koch in a statement.

The group reported second-quarter sales up 14.1 per cent at €674 million and net earnings up 10.6 per cent at €37.6m.

Analysts were on average expecting second-quarter sales of €674m, according to a Reuters poll.

Adidas reports results on August 4.