Puma raises revenue target

Puma has increased its full-year forecasts for the second time in three months as the German sporting-goods maker brought forward figures showing a jump in quarterly sales and profit. The shares surged up to 7%, extending their gain this year to 44%.

Currency-adjusted revenue for 2017 will rise by 12% to 14%, the company said in an unscheduled statement, up from a prior forecast of low double-digit growth.

Like German rival Adidas, Puma has been having a revival in the US market, helped by a shift towards retro styles and away from basketball shoes which have hurt Under Armour and dented Nike’s success.