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Puma Announces 4% Sales Growth for 2024, Lowers 2025 Profit Forecast

The German sportswear company plans cost-saving measures, including 500 job cuts, as it contends with geopolitical and economic challenges.

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The logo of German sports goods firm Puma is seen at the entrance of one of its stores in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger/File Photo
A visitor holds a Puma Speedcat OG sneaker displayed at the Puma Mostro House in Paris, France, January 24, 2025. REUTERS/Abdul Saboor/File Photo
Puma predicted weaker demand this year “due to a soft performance in the US and China”

Overview

  • Puma reported a 4% increase in currency-adjusted sales for 2024, totaling €8.82 billion, with strong growth in the fourth quarter offsetting earlier stagnation.
  • Earnings before interest and taxes (EBIT) remained flat at €622 million in 2024, with profitability challenges highlighted by the company’s CEO.
  • The company projects low- to mid-single-digit sales growth for 2025 and EBIT of €520–600 million, below market expectations.
  • Puma will implement a cost-saving program, including one-time costs of €75 million and 500 global job cuts, to address profitability concerns.
  • Shares of Puma fell after the company issued a downbeat 2025 outlook, citing weak performances in key markets such as the U.S. and China.