Puma shares plunge 23% as weak profit shakes confidence
Puma lost more than a fifth of its market value 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 with bigger rivals Adidas and Nike.
Puma Plunges After Profit Warning Highlights Adidas’s Lead
Puma SE shares plunged after the German sportswear company reported disappointing earnings and pushed back profitability targets in a painful contrast to cross-town rival Adidas AG. Puma announced belt-tightening efforts on Wednesday and downgraded its profit margin guidance.
Puma shares plunge on profit target downgrade
Puma shares plunged on Thursday morning, after the German sportswear company reported disappointing earnings and downgraded its profitability targets.
Puma shares plunge after missing profit target
While this increased revenue, it weighed on Puma’s profit margin. The company is aiming to boost its margin through cost cutting, which it said would include reallocating staff to “strategic growth areas” such as marketing, while keeping the total headcount “stable”.
Puma shares plunge 21% after sales and profit miss
By Helen Reid (Reuters) -Puma shares sank 21% 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.
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Puma shares plunge 23% after Q4 profit misses Street estimates, stock hits lowest level in two decades
Puma lost more than a fifth of its market value on Thursday after the German sportswear brand reported lower than expected fourth-quarter sales and a drop in annual profit, raising questions about its ...
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