Puma shares fell as much as 7 percent on Friday after the company released its second quarter earnings report that indicated slower sales have eased slightly, but the brand’s full-year guidance remains unchanged.
The German sportswear maker said sales were down 9.4 percent over the same point last year at $1.94 billion revenue largely because of a “reset” tied to its ongoing turnaround effort and weaker demand in crucial markets like North America.
Meanwhile, Puma said that its fiscal year 2026 outlook is confirmed and will likely be impacted by the ongoing conflict in the Middle East, lower tariff rates and tariff refunds.
“Operationally, we took significant steps towards a structurally healthier business model in the second quarter by reducing inefficiencies, optimizing our cost base and improving our organizational setup. Together with our brand-led approach these changes are the foundation for future growth,” Puma CEO Arthur Hoeld said. “After a solid first quarter and a softer second quarter in line with expectations, we expect sales to improve sequentially in the second half of 2026. This supports our confidence in the full-year trajectory and we confirm our outlook for the full year.”
In the North American region, Puma saw its biggest drop of all markets in the quarter at 16.7 percent, with Latin America down 13.8 percent and the EMEA region (Europe, the Middle East and Africa) slipping 12.9 percent. But in the Asia-Pacific market, sales were up 8.6 percent.
Puma remains locked into a major turnaround that was announced in 2025 as the brand was in the midst of an overhaul in its executive ranks with Arthur Hoeld taking over as CEO earlier in the year. The company would ultimately declare a full-year loss for 2025 as it looked to curb massive discounting of its products, trim its workforce and redefine its relationship with wholesalers.
The revamp is expected to take shape at some point in 2027 while Puma sustains changes that will transform the company. In January, Chinese sportswear giant Anta purchased a 29 percent of the company for $1.8 billion after months of speculation over its fate and potential suitors.
By product category, footwear sales fell by 11.7 percent to $1.08 billion in the quarter over $1.2 billion at the same point in 2025, which the company attributes to its slumping core and kids products. But running and training footwear continue to lead the segment for the brand.
Apparel sales were fell 4.3 percent to $636 million in the second quarter versus $668 million last year with Puma seeing a boost in 2026 World Cup jersey sales, while accessory sales dipped by 12 percent to $234 million from $266 million in 2025.
The company is betting on running, soccer and training products to lead the charge as it pushes forward on its reboot.
