Puma Charts Reset Strategy To Climb To Global Top 3 Sports Brands

Puma has set out a new strategic direction aimed at positioning the company among the world’s top three sports brands, as the company works through a transition year marked by operational resets and cost realignment. In the third quarter of 2025, Puma reported a 10.4% decline in currency-adjusted sales to €1,955.7 million, driven largely by intentional distribution clean-up measures and reduced sell-in across certain channels. On a reported basis, sales fell 15.3%.

Gross profit margin declined by 260 basis points to 45.2%. The company attributed the drop to increased promotional activity in the wholesale channel, inventory write-downs associated with its distribution clean-up and elevated freight costs. Adjusted EBIT, excluding one-time restructuring charges, stood at €39.5 million, while reported EBIT came in at €29.4 million after accounting for €10.1 million in costs linked to the ongoing cost efficiency programme.

Inventory levels rose 17.3% to €2,124.1 million. Puma noted that inventory reduction is a major operational focus and expects stock levels to normalize by the end of 2026. As part of its efforts to reinforce financial discipline and streamline operations, the company has expanded its cost efficiency programme to include a targeted reduction of approximately 900 white-collar roles globally by 2026.

CEO Arthur Hoeld reaffirmed that 2025 is a year of “reset” for Puma. He highlighted that the company has made tangible progress in cleaning up its distribution network, improving cash management and optimizing operational expenses. Hoeld expressed strong confidence in the long-term strength of the Puma brand, citing its rich heritage, strong product archive and credibility in key sports categories.

“We have identified the areas in which we need to take decisive action,” Hoeld said. “With our new strategic priorities, our ambition is clear: to become one global sports brand with unified product storytelling and to position Puma among the Top 3 sports brands worldwide, delivering above-industry growth and sustainable profitability in the medium term.”