Reported 2 months ago
Puma has revised its full-year core profit outlook downwards, forecasting operating profit between 620 million and 670 million euros due to currency headwinds and higher costs. The company is facing weaker consumer demand and excess inventory, despite initiatives to boost its competitive edge against rivals like Adidas and Nike. Q2 results showed a modest sales growth, driven by the Americas, while the European market faced declines.
Source: YAHOO