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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.

Nia Warfield

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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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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