Puma shares plunge
Puma shares plunge after missing profit target
While this increased revenue, it weighed on Puma’s profit margin. The company is aiming to boost its margin through cost cutting, which it said would include reallocating staff to “strategic growth areas” such as marketing, while keeping the total headcount “stable”.
The nextlevel programme is aimed at cost reduction and operational enhancements to boost profitability growth.
The German sporting-goods company blamed higher interest expenses.
Puma SE reported a 9.8% sales growth in Q4 FY24 and launched a new efficiency program aiming to enhance profitability through cost control measures and strategic investments.
German sportswear giants Adidas and Puma have both said they are seeking to reduce costs, including through possible job cuts, as they aim to bolster profits.
Puma SE shares plunged after the German sportswear company reported disappointing earnings and pushed back profitability ...
German sportswear giants Adidas and Puma have both announced they are seeking to reduce costs, including through possible job ...
Sports company PUMA on Wednesday announced preliminary 2024 results, reporting a currency adjusted sales growth of 9.8% to €2,289 ...
Sportswear brand Puma has announced a cost-cutting programme after reporting 2024 net profit below the prior year's level, ...
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