Companies

Puma posts soft second-quarter results

Aug 5, 2026 Germany

The Germany-based sportswear company has reported soft second-quarter results, marked by weaker consumer demand and the ongoing reset of its business weighing on sales

In the second quarter of the 2026 financial year, Puma reported sales of 1.69 billion euros, representing a decline of 9.4% on a currency-adjusted basis and 9.7% on a reported basis compared to the same period last year.

The company attributed the results to weaker consumer demand in key regions amid the ongoing conflict in the Middle East and to the continued implementation of its reset measures.

Of the product divisions, apparel was the most resilient in the second quarter, with sales declining by 4.3% in currency-adjusted terms compared with the same period in 2025. Meanwhile, footwear sales fell by 11.7%, and accessories recorded the sharpest decline at 12.0%.

On a regional basis, the Americas recorded the steepest decline, with second-quarter sales falling by 15.4% year-on-year on a currency-adjusted basis. This was followed by the EMEA region, where sales decreased by 12.9%. The Asia/Pacific region was the only one to grow, with sales rising by 8.6%.

In the first half of the year, sales were down by 5.2% on a currency-adjusted basis and by 7.9% in euro terms, coming in at 3.6 million euros.

Operational Performance

In the second quarter of this year, the company’s gross profit margin increased by 180 basis points compared to the same period last year, reaching 48.0%. This was driven by lower sourcing costs, favourable currency effects, and a favourable product mix, despite negative effects from changes in the product range.

However, adjusted EBIT declined to -41.9 million euros from -24.5 million euros, as lower sales more than offset the margin improvement. Reported EBIT improved to -53.1 million euros from -109.1 million euros in the second quarter of 2025, reflecting significantly lower one-off costs related to the company’s cost efficiency programme.

The company also continued to make progress in normalising its inventory levels. At the end of the quarter, inventories totalled 1.82 billion euros, which is a 15.3% decrease compared to the previous year. This reflects lower purchasing volumes as Puma continues to implement its inventory reduction programme.

“Operationally, we took significant steps towards a structurally healthier business model in the second quarter by reducing inefficiencies, optimising our cost base and improving our organisational setup. Together with our brand-led approach these changes are the foundation for future growth”, said Arthur Hoeld, Chief Executive Officer of Puma.

Full-Year Outlook

Looking ahead, Puma maintained its full-year guidance for 2026. The company expects currency-adjusted sales to decline by a low- to mid-single-digit percentage, with EBIT ranging between -50 and -150 million euros. This includes the effects of the implemented cost efficiency programme.

Image Credits: about.puma.com

Illustration: Sofia Pádua

Germany Companies Puma Quarter Results Results Sportswear