Puma Speedcat trainers are displayed at a Puma store London, Britain, January 23, 2025. REUTER
(Reuters) – German sportswear maker Puma on Thursday said it still expected to report a loss this year, after reporting a narrower-than-expected loss in 2025.
It also cancelled its dividend for 2025. It had paid out a dividend of 0.61 euros to shareholders a year earlier.
Under its new CEO Arthur Hoeld, Puma is undergoing a turnaround after tepid demand for its sports outfits and Speedcat sneakers as well as an industry-wide hit from U.S. tariffs on imports weighed on the business.
The company said it expected an operating loss of between 50 million and 150 million euros ($59-$177 million) in 2026.
The forecast included one-time effects related to the implemented cost efficiency programme, it said in a statement.
For 2025, it posted a loss before interest and tax of 357.2 million euros, which compared with a profit of 548.7 million a year earlier.
That was still ahead of an expected loss of 374.3 million euros, based on an analyst poll, provided by the company.
Puma expected sales to keep declining this year, albeit at a slower pace in the low- to mid-single-digit percentage range. Sales slid 8.1% to 7.3 billion euros in 2025 from a year earlier.
China’s top sportswear brand Anta has promised to help Puma grow its sales in China, after striking a deal last month to become Puma’s biggest shareholder with a 29% stake.
Reporting by Linda Pasquini and Helen Reid, Editing by Ludwig Burger
