For German sportswear maker Puma, second quarter sales rose a currency-adjusted 15 per cent, slowing from a 21 per cent jump in the first quarter. All regions grew fast, with footwear the main growth driver, but sales of apparel and accessories also increased at double-digit rates, although the strength of the euro dented reported sales.

The launch of new basketball products and partnerships with players were well received by retailers and basketball fans. Rap mogul Jay-Z will be Puma’s creative director of basketball, which it sees as critical to helping its position in the North American market, already bolstered by deals with stars like Rihanna and Selena Gomez.

Puma, which still lags German rival Adidas and market leader Nike, has revived its fortunes in recent years by spending heavily on sponsoring top soccer teams and partnering with celebrities such as singer Rihanna. That had raised analyst expectations that it might lift its earnings outlook for the year again.

However, Puma left its operating profit target at between 310 million euros and 330 million euros even as it lifted its forecast for a currency-adjusted rise in sales to 12 per cent to 14 per cent from 10 per cent to 12 per cent.