Grigory Dukor/Reuters
- Puma posted quarterly earnings on Wednesday that pushed shares 12% higher.
- The German sportswear giant flagged rising demand for its Palermo sneakers.
- The "terrace" trend has helped boost sales for Puma and arch rival rival Adidas in recent years.
Puma touted rising demand for its retro terrace-style range on Wednesday as it posted first-quarter earnings that were in line with analysts' expectations but still sent shares soaring.
The German footwear giant's net income and earnings per share fell for the three months ending March 31, but its sales in the Americas rose for the first time in four quarters.