Puma Announces Job Cuts and Store Closures Following Profit Warning

The German sportswear company cites weak demand in the U.S. and China, rising competition, and economic uncertainties for its restructuring plans.

Puma will cut 500 jobs globally and close unprofitable stores as part of a cost-saving initiative expected to incur one-time costs of €75 million in 2025.
The company has lowered its 2025 earnings forecast to between €520 million and €600 million, below market expectations and last year’s €622 million.
Weak demand in key markets, including the U.S. and China, has contributed to a 23% drop in Puma’s share price, its worst decline since 2016.
Puma faces increasing competition from rivals like Adidas, Nike, and newer brands such as On Running and Hoka, while struggling to capitalize on the retro footwear trend.
Despite challenges, Puma reported 4.4% sales growth in 2024 and plans to scale up its Speedcat sneaker line this summer to drive future sales.