Puma Announces Job Cuts and Store Closures Following Declining Sales

The German sportswear company forecasts weaker growth for 2025, citing geopolitical tensions, trade disputes, and soft demand in key markets.

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.