German sports brand Puma has lowered its financial outlook for the full year 2025, citing weaker-than-expected sales growth and the possible impact of US tariffs.
Puma’s direct-to-consumer sales grew 9.2% in the second quarter. Source: Tada Images/Shutterstock.com
Puma said in its preliminary second-quarter (Q2) results that full-year currency-adjusted sales growth was “no longer” in line with previous expectations after second-quarter sales fell 2.0% to €1.94 billion (US$2.28 billion).
The decline was driven by sales falling 9.1% in North America, 3.9% in Europe and 3.9% in Greater China.
“Slower than expected performance in our key markets (North America, Europe and Greater China) impacted Puma’s sales and earnings performance in the second quarter,” the company said.