Puma shares plummeted 18% Friday after the German sportwear brand posted worse-than-expected second-quarter sales and cut its full-year guidance, flagging the impact of U.S. trade tariffs.
In a preliminary updated after markets closed on Thursday, the retailer said it expects full-year sales to decline by a low-double digit percentage this year, compared with its prior forecast of sales growth in the low- to mid-single digit range.
Puma also said it expects to post an operating profit loss in 2025 — a huge swing from the 445 million euro ($523 million) to 525 million euro profit it forecast prior to assessing the impact of tariffs.
The company’s shares were down 18.4% by 8:23 a.m. London time (3:23 a.m. ET).
“Amid ongoing volatile geopolitical and macroeconomic volatility, Puma anticipates that both sector-wide and company-specific challenges will continue to significantly impact performance in 2025,” the company said in a statement.
