Business news : Puma does not rule out job cuts, the distribution referred.

German manufacturer of sports equipment Puma, a subsidiary of French group PPR, did not rule Thursday job cuts related to its plan to reduce costs, including store closures planned. 
"We are in a phase of validation and accuracy of our reorganization plan, before you can say what this means in terms of job cuts. But obviously, it focuses on retail," said its deputy CEO Franz Koch during a telephone press conference.Puma said Thursday it would simplify its structure and close stores, while its quarterly net income has shrunk a little over 29% year on year. 
The project has pleased the market: 9:21 to action was leading to Frankfurt index MDax average values, taking 5.35% to 224.50 euros. 
Puma intends to "optimize" its distribution "selectively opening new stores primarily in emerging markets" like China where the group achieved a double digit growth in sales in the second quarter, and "closing the stores in -perform ".But Mr Franz refused to say which stores would be affected by these closures, returning again in "few weeks".The organization in Europe will be simplified and concentrated in seven entities guidelines, against 23 before, he confirmed. 
Each entity must include several countries in order to concentrate the administrative, sales management remaining, she left to teams of each country. Some countries, like France, will continue to have as a CEO.The group also wants to develop a harmonized platform and reorganizing its procurement chain.Finally, the group will simplify its supply and "significantly reduce the overall number of items developed", all by ending the sponsorship contracts less attractive to him. 
In the process, he announced changes in its direction, especially with the departure of her business manager and director of its operational later this year, as the appointment of a new CFO.July 18, Puma had to revise down its annual targets, due to a charge of EUR 100 million related to its reorganization, and to report a decline of about 13% of its net profit in the first half.He also released figures Thursday for the second quarter, its net profit for the period has shrunk by 29.2% year on year to 26.7 million euros, with sales up 11.8% (in euros) over the same period.

(French Source :  AFP )

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