Puma shares slid more than 18% on Thursday after the German sportswear brand reported lower than expected fourth-quarter sales and a drop in annual profit, raising questions about its ability to compete against bigger rivals Adidas and Nike.

Puma shares fell 18 per cent after reporting lower-than-expected Q4 sales and a dip in annual profit, raising concerns about its competitiveness with Adidas and Nike. The disappointment follows Adidas' strong performance.