Puma shares plunged 19% in early trading on Friday after the company warned it now expects to post a loss for the year, a sharp reversal from previous forecasts as the impact of US tariffs hit the German sports brand hard
The group cut its outlook, saying currency-adjusted sales will fall by at least 10%, compared with earlier predictions of growth.
Puma’s second-quarter sales fell short of expectations at €1.94 billion, with declines seen in both North America and Europe.
The company flagged that US tariffs will reduce 2025 gross profit by about €80 million.
New chief executive Arthur Hoeld, who took charge this month, faces significant challenges as Puma also continues to implement job cuts.