Puma has announced a global restructuring plan with 900 layoffs after a 10.4% decline in sales. The company does not expect recovery until 2027.
The German sportswear brand is undergoing a major transition after its sales plummeted by 10.4% in the third quarter. Puma is facing one of the most challenging moments in its recent history. The company reported a 10.4% drop in organic sales during Q3 2025, reaching €1.96 billion, and confirmed the elimination of 900 administrative positions as part of its restructuring plan.
According to the official statement, the company is in the midst of a “strategic reboot” to address several internal challenges, including a loss of brand momentum, excess inventory, and inefficient distribution. Among the measures adopted are the reduction of unwanted wholesale sales, inventory adjustments, and the limitation of promotions — all of which directly impacted performance across both owned stores and online channels.
New CEO Arthur Hoeld, who took over in July following a long tenure at Adidas, is leading this transformation with the goal of making Puma a “more efficient and resilient” company. Hoeld warned that recovery is unlikely before 2027, describing 2026 as a transitional year focused on operational reorganisation.
Financially, earnings before taxes (EBIT) plunged by more than 80%. The decline was particularly steep in the Americas, where sales dropped 15.2% (€678 million), followed by Asia-Pacific (-9%) and Europe, the Middle East and Africa (-7.1%).
The footwear segment — traditionally Puma’s cornerstone — fell by 9.9% to €1.05 billion, impacted by the weak performance of “low profile” trend models such as the Speedcat. Apparel sales declined by 12.8%, weighed down by the lifestyle category, while accessories fell by 6.1%.
After cutting its annual forecast this summer, Puma maintains its profit warning and expects global sales to fall by a low double-digit rate throughout 2025. The group, which under its previous management had projected moderate growth and an EBIT between €445 and €525 million, is now focused on stabilising its structure before returning to the path of growth.
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