Overview

• Puma will cut 500 jobs globally and close unprofitable stores as part of a cost-saving initiative aimed at addressing stagnant profitability.
• The company has lowered its 2025 earnings forecast to €520-€600 million, significantly below last year’s €622 million and market expectations.
• Shares in Puma have dropped 23%, marking their worst decline since 2016, as investors react to disappointing financial forecasts and weak U.S. and Chinese demand.
• Puma’s 2024 sales grew by 4.4% to €8.82 billion, driven by strong performance in the Americas and Asia-Pacific, but profitability remains a concern.
• The company is urging suppliers to reduce reliance on Chinese production, which accounts for 10% of U.S. imports, to mitigate the impact of new U.S. tariffs.