German athletic wear company Puma announced Thursday it anticipates remaining in the red financially through the coming year, following a smaller-than-projected loss in 2025.
The brand also eliminated shareholder dividend payments for 2025, after previously distributing 0.61 euros per share to investors the prior year.
New Chief Executive Arthur Hoeld is leading Puma through a comprehensive business restructuring following lukewarm consumer interest in the company’s athletic clothing and Speedcat shoe line, compounded by industry-wide challenges from American import tariffs that impacted operations.
Puma projects an operating deficit ranging from 50 million to 150 million euros ($59-177 million) for 2026.
The company noted this projection incorporates temporary impacts from its ongoing cost-cutting initiatives, according to their official statement.
The brand recorded a pre-tax loss of 357.2 million euros in 2025, a sharp reversal from the previous year’s 548.7 million euro profit.
However, this performance exceeded analyst expectations, which had predicted losses of 374.3 million euros based on company-provided polling data.
Puma anticipates revenue will continue dropping this year, though at a more moderate rate in the low- to mid-single-digit percentage range. Total sales decreased 8.1% to 7.3 billion euros in 2025 compared to the previous year.
Chinese athletic wear leader Anta has committed to supporting Puma’s expansion in the Chinese market, following last month’s agreement that made Anta Puma’s largest stakeholder with a 29% ownership position.
