Puma reports a 9.4% currency-adjusted sales decline in Q2, citing wholesale contraction and softer consumer demand amid transition efforts.
Puma’s second-quarter currency-adjusted sales fell 9.4%, driven by a 14% decline in wholesale and weaker consumer demand. Direct-to-consumer sales edged up 0.4%, with e-commerce growth of 1.8%, pushing its share of total sales above 35%.
Regional performance varied, with Asia-Pacific sales rising 8.6% while EMEA, the Americas, and Latin America declined. Gross margin improved to 48.0%, though adjusted EBIT remained negative at €41.9 million. Free cash flow reached €329 million, and inventory dropped 15.3%.
The company maintained its 2026 outlook, forecasting a low- to mid-single-digit sales decline and EBIT between negative €50 million and negative €150 million. CEO Arthur Hoeld described the quarter as aligned with transition-year commitments.