Puma Plunges After Profit Warning Highlights Adidas’s Lead

German company pushes back profitability target by two years
Shares show the steepest decline in more than 20 years

Puma SE fourth-quarter earnings were €109 million ($114 million), short of analyst estimates. — Puma SE fourth-quarter earnings were €109 million ($114 million), short of analyst estimates.
Photographer: Krisztian Bocsi/Bloomberg

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By Tim Loh

January 22, 2025 at 6:02 PM UTC

Updated on

January 23, 2025 at 2:01 PM UTC

Puma SE shares plunged after the German sportswear company reported disappointing earnings and pushed back profitability targets in a painful contrast to cross-town rival Adidas AG.

Puma announced belt-tightening efforts on Wednesday and downgraded its profit margin guidance. The stock fell as much as 19% in Frankfurt trading, the biggest drop in more than two decades.