Puma sees quarterly sales drop on U.S., China performance

News Snapshot:

German sportswear Puma said on Tuesday it expects quarterly currency-adjusted sales growth to be in a low single-digit percentage, below the previous year’s level, due to a soft performance in the U.S. and China. The company expects to incur one-time costs of up to €75 million ($81.96 million) in 2025 as part of its cost efficiency program. Uncertainty over whether consumer demand in China will recover has driven many brands, including in the luxury sector, to focus more on U.S. shoppers as a growth driver for 2025. Puma flagged ongoing geopolitical tensions and economic challenges in 2025, highlighting trade disputes...