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Puma reports strong results for the first quarter of 2026
Puma reported a strong start to its 2026 financial year, helped by inventory reduction efforts, and announced the appointment of Mark Langer as chief financial officer, Worldfootwear.com reports.
In the first quarter of fiscal year 2026, the company generated revenue of €1,86 billion, a 1% decrease year-on-year after adjusting for currency fluctuations. Currencies, particularly the US dollar, Turkish lira, and Argentine peso, had a negative impact, causing a 6,3% decline in sales.
Overall, sales growth was driven by the sale of excess inventory, primarily through select wholesale partners, with a decline of 8,6% year-on-year.
During the quarter, Puma's wholesale sales decreased by 2,8% (approximately) year-on-year due to lower demand from retail partners in the EMEA (Europe, Middle East and Africa) region, while direct-to-consumer (DTC) sales increased by 3,8% due to higher sales at its own retail stores and clearance of remaining stock at outlet stores.
Online sales increased slightly due to the expansion of online platforms in the Asia-Pacific (APAC) region. As a result, the share of direct-to-consumer (DTC) sales increased to 28,3% this quarter, compared to 27,5% a year earlier.
The EMEA region continued to face challenges in the first quarter of this year, with sales down 10,4% (currency adjusted) compared to the same period in 2025. This was primarily due to weak demand, lower wholesale performance, and a decline in sales in the Middle East.
Latin America grew by 10,5%, while North America grew by 2,3%. Sales in the Asia-Pacific region increased by 7,9%, adjusted for currency fluctuations. Greater China saw growth of 9%, driven by demand during the Lunar New Year holiday and continued consumer interest in low-profile footwear.
In the current quarter, the company's gross profit increased by 60 basis points compared to the same period last year to 47,7%, driven by lower transportation costs, an adjustment to inventory provisions and an increase in the share of direct-to-consumer sales.
Meanwhile, adjusted operating expenses decreased by 5,5% following the implementation of a cost-efficiency program. As a result, adjusted earnings before interest and taxes (EBIT) increased from €61,3 million to €64,4 million, while reported earnings before interest and taxes (EBIT) increased by 19,6% to €51,9 million. Net profit also increased, rising from €1,1 million to €26,5 million.
Puma announced that Mark Langer will join the board as Chief Financial Officer, effective May 1. Langer previously served as CEO of Hugo Boss and, most recently, as Chief Financial Officer of the Douglas Group.
Puma reported a strong start to its 2026 financial year, helped by inventory reduction efforts, and also announced the appointment of Mark Langer as chief financial officer, writes…
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