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Puma SE
Investor Relations

Puma SE designs and sells athletic footwear, sportswear, and accessories under the Puma brand. Its products include running shoes, training gear, soccer kits, and casual sport-inspired clothing. The company sells to everyday consumers, athletes, teams, and sports fans who want branded performance and lifestyle products. Puma makes money mainly by selling products through wholesalers, its own retail stores, and online channels. It also works with distributors and, in some cases, earns licensing income from products that carry the Puma name. This gives the company a mix of direct sales and partner-led sales across many countries. What makes Puma’s business model distinctive is that it sits at the intersection of performance sports and fashion. It competes with larger athletic brands by focusing on a strong global brand, fast-moving product design, and close ties to sports such as soccer and running. That makes Puma both a consumer brand company and an important supplier in the sportswear value chain.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
Apr 30, 2026
AI Summary
Q1 2026

Sales: PUMA said Q1 sales fell 1% currency adjusted, which was better than the prior two quarters and in line with expectations. Clearance activity helped offset softer demand, especially in wholesale.

Profitability: EBIT improved to about EUR 52 million, helped by a 60 bps gross margin improvement to 47.7% and lower operating expenses.

Outlook: Management reaffirmed full-year guidance for a low to mid-single-digit currency-adjusted sales decline and EBIT of minus EUR 50 million to minus EUR 150 million.

Reset progress: The company said inventory cleanup, lower discounts, and rightsizing are progressing ahead of plan, with inventories expected to normalize by the end of 2026.

Brand rebuild: PUMA highlighted stronger traction in NITRO, HYROX, football, and low-profile styles, while saying the style/lifestyle turnaround still has work left for 2027.

Leadership change: CFO Markus Neubrand is stepping down at month-end and will stay until the end of September, while industry veteran Mark Langer will join as CFO early next month.

Key Financials
Sales
-1% currency adjusted
Wholesale sales
-2.8%
Direct-to-consumer sales
+3.8%
E-commerce sales
+0.6%
D2C share
28.3%
EMEA sales
around -10% currency adjusted
Americas sales
around +6% currency adjusted
Asia Pacific sales
around +8% currency adjusted
Footwear sales
-2.3%
Apparel sales
+0.9%
Accessories sales
+0.3%
Gross profit margin
47.7%
Operating expenses
EUR 848 million
Adjusted EBIT
around EUR 64 million
EBIT
around EUR 52 million
Financial result
around minus EUR 60 million
Profit from continued operations
EUR 26.5 million
Inventories
EUR 1.9 billion
Trade receivables
EUR 1.2 billion
Trade payables
around EUR 1 billion
Working capital
EUR 1.8 billion
Free cash flow
minus EUR 201 million
Net debt
EUR 1.3 billion
Cash position
EUR 326 million
Financial headroom
around EUR 1.1 billion
CapEx
around EUR 200 million
Earnings Call Recording
Other Earnings Calls
2026
2025

Management

Mr. Arne Freundt
CEO & Chairman of Management Board
No Bio Available
Ms. Anne-Laure Descours
Chief Security & Sourcing Officer and Member of the Management Board
No Bio Available
Ms. Maria Valdes
Chief Product Officer & Member of Management Board
No Bio Available
Mr. Markus Neubrand
CFO & Member of Management Board
No Bio Available
Mr. Gottfried Hoppe
Director of Investor Relations & Finance Strategy
No Bio Available
Ms. Raliza Koleva
Chief Compliance Officer
No Bio Available
Kerstin Neuber
Senior Director Of Corporate Communications
No Bio Available
Dietmar Knoess
Vice President of People & Organization
No Bio Available
Stefan Seidel
Senior Director of Corporate Sustainability
No Bio Available
Ms. Ruth How
Head of Marketing UK
No Bio Available

Contacts

Address
BAYERN
Herzogenaurach
Puma Way 1
Contacts
+499132810.0
puma.com
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