Overview

• 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.