Puma Plunges After Profit Warning Highlights Adidas’s Lead
Puma SE shares plunged after the German sportswear company reported disappointing earnings and pushed back profitability targets in a painful contrast to cross-town rival Adidas AG. Puma announced belt-tightening efforts on Wednesday and downgraded its profit margin guidance.
Puma shares plunge after missing profit target
While this increased revenue, it weighed on Puma’s profit margin. The company is aiming to boost its margin through cost cutting, which it said would include reallocating staff to “strategic growth areas” such as marketing, while keeping the total headcount “stable”.
Puma shares slumped on Thursday as the German apparel maker’s preliminary fourth-quarter numbers disappointed analysts.
The gulf in performance between Adidas AG and Puma SE shares since Bjorn Gulden hopped between the German sportswear makers ...
German sportswear giants Adidas and Puma have both said they are seeking to reduce costs, including through possible job cuts, as they aim to bolster profits.
German sportswear giants Adidas and Puma have both announced they are seeking to reduce costs, including through possible job ...
Puma SE shares opened 16 percent lower in Europe on Thursday morning after a pre-announcement of 2024 fourth quarter and full ...
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Puma heightens focus on profitability growth after 2024 profit missGerman sporting-goods brand Puma has launched 'NextLevel' cost efficiency programme, after its 2024 net income fell short of the previous year's figure and expectations.
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