German sportswear brand Puma is set to cut some 900 administrative jobs by the end of 2026 as the firm posted disappointing results for the first nine months of 2025, reported dpa.
Sales were down 8.5% year-on-year in the period, reaching €5.97 billion, the company based in southern Germany said on Thursday.
Net loss came in at €308.9 million over the period, compared to a net income of €257.1 million in the first nine months of last year.
The sportswear maker, led by new chief executive Arthur Hoeld, said it plans to increase focus on its core markets, including football, training and running as well as sportswear fashion.
"PUMA has to become less commercial, both in its wholesale and owned-and-operated channels," the firm said.
"While both Wholesale and DTC will continue to play an important role in our distribution strategy, we will evolve our channel mix and aim for higher growth in our direct-to-consumer channels to bring it closer to industry averages."
"While 2025 is a year of reset and 2026 will be a transition year, we are confident that the measures outlined above are an important first step in returning PUMA to growth from 2027 onwards," Puma said.
Hoeld struck an optimistic note, saying: "I strongly believe the PUMA brand has incredible potential with more than 77 years of history, one of the best product archives in the industry and huge credibility in many major sports."
Among other things, the company aims to reduce "undesired wholesale business," and "excess inventory at retail partners" to strengthen Puma's appeal as a brand.
- Puma
- Cuts
- Jobs
Source: www.dailyfinland.fi
