Gross MarginQ2 gross margin expanded +200bps y/y due to favorable sales mix shifts, as DTC grew to 27.8% of sales, and lower sourcing and freight costs.
Inventory ManagementPuma expects DTC to be the main driver, with no time lag between sell-in and sell-out, which reflects a healthy inventory level.
Revenue GrowthPuma has demonstrated consistent revenue and margin growth in the past 7 years.