Puma Shares Fall on Weaker-Than-Expected Earnings Forecast
- Sports company cites hyperinflation in Argentina as challenge
- Puma reported fourth-quarter results that missed estimates
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Puma SE fell as much as 8.4% after the German sports company said earnings this year will be weaker than expected, citing factors including the devaluation of the Argentine peso.
Earnings will probably be in a range of €620 million ($675 million) to €700 million this year, the company said in a statement. That’s lower than the €784 million average of analyst estimates.