Puma Struggles Amid Falling Sales and Increased Tariffs
Puma reports a significant decline in annual sales and unexpected quarterly earnings amidst challenges with retro sneaker sales and U.S. tariffs. The company appoints a new CEO, Arthur Hoeld, in a bid to overcome its financial difficulties. Analysts and markets react negatively to the revised sales outlook.
Puma, the renowned German sportswear brand, faced a sharp setback on Friday as its shares dipped 18% following a disappointing earnings report and a gloomy sales forecast for 2025.
The company disclosed plans for a new strategy under the leadership of newly appointed CEO Arthur Hoeld, formerly with Adidas, in hopes of reversing its financial fortunes.
With tariffs impacting profitability and sales of retro sneakers like the Speedcat falling short, Puma's 2025 sales outlook is bleak, prompting keen attention from market analysts and stakeholders.
(With inputs from agencies.)
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