Puma store

Puma store in Bangalore, India (Indranil Aditya/Getty Images)

Puma shares post worst day ever as German sneaker giant cuts jobs, gives profit warning

Puma has lost its footing in key markets as sneaker competition picks up speed.

3/12/25 11:45AM

Puma shares plunged as much as 25% — their worst drop ever — after the German sneaker company warned of weaker profits and announced 500 job cuts as part of its restructuring plan. Puma’s stock has already lost about half its value this year, trailing Nike and German rival Adidas as demand slumps in the US and China.

The company now expects 2025 earnings between €520 million and €600 million (or $567 million to $654 million), missing forecasts. CEO Arne Freundt also said the company will close some unprofitable stores as it looks to stay competitive against newer fast-growing rivals like On Holding and Deckers’ Hoka brand.

Puma’s already lost footing in the US and China as demand for the 77-year-old brand dwindles. Back in January, the company missed Q4 estimates and said it expects current quarter earnings to come in well below last year’s figures.

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