Puma sales exceeded analysts' forecasts

In the third quarter of 2026, Puma's sales fell by 5% in annual terms — up to 1.77 billion euros. Despite the negative dynamics, the result turned out to be slightly better than the forecast of analysts, who expected 1.75 billion euros.

The company continues to struggle with declining consumer demand and is trying to rebuild brand appeal to compete with Adidas and Nike.

Stocks decreased by almost a quarter

One of the most important positive signals for investors was the decrease in warehouse stocks. During the quarter, they decreased by 24.3% — up to 1.6 billion euros.

UBS and Jefferies analysts positively assessed the rapid normalization of stocks. According to their estimates, their volume has already fallen below the target level, which indicates progress in working with commodity balances.

Following the release of the report, Puma shares rose by approx 8%, giving the company its best trading day since February.

The company narrowed the forecast of operating losses

Puma also revised expectations for financial results for 2026. The company now forecasts operating losses in the range 80–130 million euros instead of the previous range of 50–150 million euros.

To restore its market position, the manufacturer is increasing investments in advertising and technologies for the production of running shoes. These directions should help strengthen the competitiveness of the brand and stimulate demand.

China's Anta Sports has become the largest shareholder of Puma

The company associates additional opportunities for development with cooperation with the Chinese Anta Sports. She entered into an agreement to acquire approx 29% of Puma shares for 1.5 billion euros, becoming the largest shareholder of the German manufacturer.

Puma CEO Artur Hoeld said the partnership opens up new prospects for growth in the Chinese market. Currently, the parties agree on the future operational model of cooperation.

In Ukraine, interruptions in the supply of Puma products are possible

The company also encountered logistical difficulties on the Ukrainian market. On the night of August 5, as a result of a Russian attack, the logistics complex with Puma products was completely destroyed.

The company warned of possible supply disruptions and limited availability of the brand's products in Ukraine during the next period.