Puma continues to lose revenue and records losses

Sportswear manufacturer Puma continues to experience a decline in revenue.

Third-quarter revenue fell by 5 percent year-over-year to approximately 1.78 billion euros (1.99 billion dollars), the company announced on Friday in Herzogenaurach. On a currency-adjusted basis, the decline stood at 6.3 percent. Puma recorded weaker demand, particularly in the European region and North America.

Conversely, the gross profit margin improved from 45.4 percent to 49.5 percent. Puma benefited from lower sourcing costs and customs duty refunds totalling 29.8 million euros.

Adjusted earnings before interest and taxes (EBIT) were positive at 0.4 million euros, though restructuring costs kept Puma in the red. The net loss amounted to 54.9 million euros, slightly lower than the 62.3 million euros loss recorded in the previous year.

For 2026, Puma still expects a currency-adjusted revenue decline in the low- to mid-single-digit range. However, the company narrowed its operating result guidance and now anticipates an operating EBIT of between minus 80 million euros and minus 130 million euros.

Furthermore, the company reduced its capital expenditure to an expected figure of under 150 million euros; around 200 million euros had initially been earmarked for this.