Companies

Puma reports solid start to the year, appoints new CFO

May 7, 2026 Germany

The Germany-based company has reported a solid start to the 2026 fiscal year, supported by its efforts to reduce inventory, and has also announced the appointment of Mark Langer as Chief Financial Officer

“We were off to a solid start to our transition year in 2026. We have managed to reduce our inventory levels faster than planned, streamlined our product portfolio and addressed operational inefficiencies. We have also made progress in further improving our organisation and our operational model”, said Arthur Hoeld, Chief Executive Officer of Puma.

First-Quarter Sales

In the first quarter of the 2026 financial year, the company generated sales of 1.86 billion euros, representing a 1% currency-adjusted decline compared to the same period last year. Currencies, especially the US dollar, Turkish lira and Argentine peso, were a headwind, causing a reported sales decline of 6.3%.

Overall, sales growth was driven by the clearance of excess inventory, primarily through selected wholesale partners, with a year-on-year decline of 8.6%.

During the quarter, Puma’s wholesale business decreased by 2.8% (ca) year-on-year due to lower demand from retail partners in EMEA, while the direct-to-consumer business ncreased by 3.8%, driven by growth in owned retail stores and outlet inventory clearance activities. E-commerce sales also grew slightly, benefiting from the expansion of online marketplaces in the Asia-Pacific region (APAC). As a result, the DTC share increased to 28.3% this quarter, up from 27.5% a year earlier.

In the first quarter of this year, the EMEA region continued to face challenges, with sales declining by 10.4% (on a currency-adjusted basis) compared to the same period in 2025. This was mainly due to weak demand, muted wholesale performance resulting from a reduction in undesirable business, and lower sales in the Middle East amid ongoing regional conflicts.

In contrast, Latin America achieved growth of 10.5%, while North America experienced a 2.3% increase, driven by efforts to stabilise inventory levels in the US market. The Asia-Pacific region also recorded solid momentum, with sales rising by 7.9% on a currency-adjusted basis. Greater China grew by 9%, driven by demand during Chinese New Year and sustained consumer interest in low-profile footwear.

Operational Performance

The company’s gross profit margin increased by 60 basis points year-on-year to reach 47.7% in the current quarter, thanks to lower freight costs, reversals of inventory reserves, and an increased DTC share.

Meanwhile, adjusted operating expenses declined by 5.5% following the implementation of the company’s cost efficiency programme. Consequently, adjusted EBIT increased to 64.4 million from 61.3 million euros, while reported EBIT rose by 19.6% to 51.9 million euros. Net profit also increased, rising from 1.1 million to 26.5 million euros.

CFO Appointment

At the same time, Puma announced that Mark Langer will join the management board as Chief Financial Officer from the 1^st of May. Langer previously served as CEO of Hugo Boss and most recently held the CFO position at Douglas Group.

He will oversee finance, investor relations, legal affairs, tax and internal audit, succeeding Markus Neubrand, who is expected to leave the company on the 30^th of September.

The appointment comes as Puma continues to implement measures aimed at improving profitability and operational efficiency following a challenging period marked by weaker consumer demand, elevated discount activity and ongoing pressure in the global sporting goods market.

Image Credits: about.puma.com

Germany Companies Puma Quarter Results Results Sportswear