After a significant decline in sales, the sporting goods group Puma SE has initiated a restructuring program to get back on track. The company announced on Thursday in Herzogenaurach that costs should be reduced in the short and medium term. To this end, Puma wants to cut another 900 administrative jobs by the end of 2026. In addition, the product range is to be reduced and the number of new items introduced per season is to be reduced.
Puma wants to concentrate on the football, training and running categories as well as sports fashion. The direct-to-consumer business (own retail, e-commerce) is expected to grow more strongly, as Puma has so far been heavily influenced by wholesale. Overall, Puma has become “too commercial”. This is reflected in lower brand desirability, lower sales quality and a product range that cannot establish itself on the market. The new CEO Arthur Hoeld sees 2026 as a year of transition. From 2027, Puma should return to a growth path.
In the third quarter, Puma recorded further declines in sales and earnings. The bottom line is that Adidas’ local rival had to accept a loss. The group confirmed the forecast that was lowered in the summer.