On Monday, PUMA shares continued the price losses they suffered at the end of the week.
The shares of the sporting goods manufacturer PUMA fell by 2.8 percent to 52.86 euros, making them one of the weakest stocks in the MDAX. The index of medium-sized stocks rose slightly.
Stock marketers justified the price losses at the beginning of the week with a skeptical study by the US bank Citigroup. According to expert Monique Pollard, PUMA’s attempts to reposition its US business and increase market share in China pose a challenge. Nike and adidas’ larger marketing budgets and their focus on wholesale could be more beneficial for PUMA with its marginal position in competitive sport proves to be a problem.
FRANKFURT (dpa-AFX)
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