Key facts
- Puma narrowed its 2026 operating loss forecast to €80 million-€130 million.
- Third-quarter sales fell 6.3% currency-adjusted to €1,776.2 million.
- Gross profit margin rose to 49.5%.
- Inventories were down 24.3% to €1,608.9 million.
- Free cash flow was €92.0 million.
Puma SE narrowed its 2026 operating loss forecast to between €80 million and €130 million, compared with a previous outlook of €50 million to €150 million. The German sportswear maker cited muted consumer demand and reset measures for a 6.3% currency-adjusted sales decline in the third quarter. The company's gross profit margin increased to 49.5%, while inventories decreased by 24.3% to €1,608.9 million. Free cash flow reached €92.0 million in the third quarter. ANTA Sports became Puma's largest shareholder in October.