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Puma Shares Plunge 18% as Q2 Sales Dip and Full-Year Guidance Is Slashed

This forecast incorporates roughly €80 million in U.S. tariff costs; elevated inventory levels; soft North American wholesale sales.

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A view of a logo at the PUMA flagship store in New York City, U.S., July 16, 2025. REUTERS/Kylie Cooper/ File Photo
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Puma Speedcat OG sneakers are displayed at the Puma Mostro House in Paris, France, January 24, 2025. REUTERS/Abdul Saboor/File Photo

Overview

  • Puma’s Q2 revenue declined 2% year-on-year to €1.94 billion on a currency-adjusted basis.
  • The company reported a €13.2 million adjusted operating loss in the quarter, excluding one-time charges.
  • Full-year sales are now projected to fall by low double-digit percentages, and the firm anticipates an annual operating loss for 2025.
  • Shares tumbled about 18–20% in early trading after the guidance cut, extending losses first seen in March’s profit warning.
  • New CEO Arthur Hoeld, who took over on July 1, has pledged a comprehensive brand and operational reset with a detailed turnaround plan due in October.