Puma shares plunge
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. Most Read from BloombergWhat Happened to Hanging Out on the Street?
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.
Sportswear brand Puma announced a cost-cutting programme on Wednesday after reporting 2024 net profit below the prior year's ...
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German sportswear giants Adidas and Puma have both announced they are seeking to reduce costs, including through possible job ...
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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.
The gulf in performance between Adidas AG and Puma SE shares since Bjorn Gulden hopped between the German sportswear makers ...
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