Puma reports Q3 sales below expectations

(Reuters) – German sportswear maker Puma (OTC:) on Wednesday reported a 5% rise in currency-adjusted sales for the third quarter, but below analysts’ expectations, as negative effects from foreign exchange rates continued to weigh on the business.

Quarterly currency-adjusted sales rose to 2.31 billion euros ($2.48 billion), stable from a year earlier but short of the 2.36 billion euros expected by analysts, according to LSEG data.