Puma narrows its annual loss forecast as sales decline and inventories fall
Puma ($PUM) narrowed its forecast for the 2026 operating loss to €80–130 million, compared with the previous €50–150 million range. Third-quarter sales fell 6.3% at constant currencies to €1.776 billion as its business reset and softer demand in North America and EMEA weighed on trading. Double-digit growth in Asia-Pacific provided a partial offset, while the gross margin improved by approximately 420 basis points to 49.5%. The quarter produced an €11.4 million operating loss, including a €29.8
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