Puma reported a 9.4% decline in currency-adjusted sales for the second quarter of 2026, driven by reduced mass-merchant and promotional business, weaker consumer demand, and a 14% drop in wholesale revenue. Direct-to-consumer sales edged up 0.4%, with e-commerce rising 1.8% and its share of total sales exceeding 35%. Asia-Pacific sales grew 8.6%, while EMEA, the Americas, and Latin America all declined. Despite a negative adjusted EBIT of €41.9 million, gross margin improved to 48.0%, free cash flow reached €329 million, and inventory fell 15.3%. The company maintained its full-year outlook for a low- to mid-single-digit currency-adjusted sales decline and EBIT between negative €50 million and negative €150 million.
PUMA SEPuma's Q2 sales fell 9.4% due to weak consumer demand and wholesale reset.