Puma posts Q3 operating loss, narrows 2026 outlook

Puma reported third-quarter 2026 sales of €1.78 billion, down 6.3% on a currency-adjusted basis, as weaker demand in North America and Europe, the Middle East and Africa offset double-digit growth in Asia-Pacific. Operating profit swung to an €11.4 million loss from a €16.2 million profit a year earlier; the result included a €29.8 million tariff refund and €11.7 million in one-time restructuring costs. Gross margin improved to 49.5%, while the company’s net loss narrowed to €54.9 million. Puma narrowed its 2026 operating-loss forecast to €80 million–€130 million from €50 million–€150 million, leaving the midpoint slightly lower, and kept its forecast for a low- to mid-single-digit currency-adjusted sales decline. It also cut its expected capital expenditure for the year to less than €150 million from about €200 million.