Reported about 17 hours ago
Puma announced a decrease in quarterly sales, attributing the decline to poor performance in the U.S. and China, with expectations for low single-digit currency-adjusted sales growth. The company intends to incur up to 75 million euros in one-time costs related to a cost efficiency program. Ongoing geopolitical tensions and economic issues, including tariff disputes, have prompted Puma to focus on U.S. consumers for growth. The brand also forecasts lower EBIT for the first quarter and faces intensified competition from larger rivals and emerging brands.
Source: YAHOO