Puma sees profit hit from U.S. tariffs on China

BERLIN (Reuters) - German sportswear group Puma cautioned on Thursday that it would take a hit from U.S. tariffs on China in the fourth quarter but still raised its sales forecast and narrowed its profit target after a strong third quarter in all regions."So far everybody is eating the tariffs in their margins," Chief Executive Bjorn Gulden told journalists, adding that he expected rivals to increase U.S. prices, but Puma would not hike first as it is not the market leader.Instead, Puma would..