Puma stock slips to 26.20 euros after Q3 reset

PUMA SE's third-quarter reset is still shaping investor sentiment after the sportswear group reported weaker sales but a narrower full-year loss range on Friday, October 30. The company detailed the figures in its official Q3 release.

Sales decline remains uneven

Currency-adjusted sales fell 6.3 percent to 1,776.2 million euros in the three months to September 30. Demand was weaker in North America and EMEA, while Asia/Pacific provided a counterweight with double-digit currency-adjusted growth.

Direct-to-consumer sales increased 1.2 percent, supported by e-commerce growth of 7.8 percent. Wholesale revenue declined as PUMA reduced business with mass merchants and faced weaker demand from retail partners.

Margin gains do not restore earnings

Gross margin rose by around 420 basis points to 49.5 percent, helped by lower sourcing prices, channel mix, currency effects and a tariff refund. Higher operating expenses and one-time costs of 11.7 million euros nevertheless pushed reported EBIT to a loss of 11.4 million euros, compared with a profit of 16.2 million euros a year earlier.

Cash generation improved: free cash flow reached 92.0 million euros, against an outflow of 43.0 million euros in the prior-year quarter. Inventories declined 24.3 percent to 1,608.9 million euros, reflecting lower purchasing volumes.

What changed since the last report

Puma stock traded at 26.20 euros on Lang & Schwarz at 18:32 CET on Tuesday, November 3, 2026. That was 3.11 percent below the 27.04 euros cited in the previous report published on November 2 at 10:31 CET. Investors can follow the real-time quote of Puma stock.

PUMA kept its forecast for a low- to mid-single-digit currency-adjusted sales decline in 2026. It narrowed the expected EBIT loss to between 80 million and 130 million euros from the previous range of 50 million to 150 million euros, while capital spending is now expected below 150 million euros.

The DAX remains the relevant broader market context for investors following German equities; see current market reports.

More news and analyses on Puma stock.