Puma Says Italy's World Cup Absense Won't Change Its Sales Estimates

Puma said that it can compensate any shortfalls from the jersey sales and Italy's absence from the World Cup won't change its sales estimates. Shares of Puma SE fell slightly on the day after Italy failed to qualify for the 2018 World Cup but have risen again in the past few days.

Puma to Loose $140 Million in Retail?

Chen Grazutis, an apparel analyst with Bloomberg, said it's reasonable to assume Italy's absence could cost Puma up to 1.5 million in individual jersey purchases. "At an average price of about $80-$90, lost sales could reach $140 million in retail,” Grazutis said.

Italy is not the only Puma team that failed to qualify. In fact, Puma will make the kits for just 2 teams in the 2018 World Cup, compared to 8 nations they supplied the kits for in Brazil four years ago.

Will the absence of Italy and so many other of their teams affect Puma's performance in general? Let us know what you think in the comments below.