Puma Sticks to Full-Year Profit Forecast Despite Q3 Earnings Drop

Puma stood by its full-year outlook on Tuesday and reported a stronger than expected third-quarter profit margin, reassuring investors and boosting its shares after a stronger euro dented the German sportswear brand’s quarterly earnings.

Shares in the company gained 4 percent in early trading. The stock dropped 10 percent in a day earlier this month after analysts said the sportswear company’s third-quarter earnings might miss market…