The Q1, FY25 profit margins of sportswear giant Puma declined and the brand reported flat sales as it focused on cutting costs and boosting overall performance.
Surpassing analysts’ projections of €2.041 billion, the brand’s sales increased by 0.1 per cent Y-o-Y to €2.076 billion (around $2.35 billion), during the quarter. However, softer demand from retailers in key markets like the US and China resulted in a 3.6 per cent decline in the brand’s revenue from the wholesale segment.
Currently undergoing a leadership change, the brand named Arthur Hoeld, former Sales Executive, Adidas as its new CEO. Hoeld will officially step into the role on July 1. In the meantime, Puma’s board is overseeing operations following Arne Freundt’s resignation on April 11.
Despite the ongoing challenges, Puma maintained its 2025 outlook, projecting ‘low- to mid-single-digit’ sales growth. However, the forecast does not include any potential impact from U.S. tariffs.
