German sportswear company Puma has announced a major restructuring programme following a decline in sales and profitability. The world’s third-largest sportswear brand, behind Nike and Adidas, plans to cut around 900 administrative positions and streamline its product portfolio by the end of 2026 under the leadership of its new Chief Executive Officer, Arthur Hoeld.
The company reported an 8.5% drop in sales for the first nine months of the year, with revenue falling to US $ 6.41 billion compared with the same period in the previous year. Consolidated earnings declined by approximately US $ 540 million, and Puma recorded a net loss of US $ 276 million for the period.
Puma stated that it would refocus on its core performance categories—football, training, running, and sports fashion—while reducing its dependence on wholesale channels. The company aims to accelerate growth through its direct-to-consumer (DTC) operations, including its own retail outlets and e-commerce platforms.
Hoeld described 2026 as a transitional year, with a return to growth expected from 2027 onwards. He said that Puma’s restructuring efforts would centre on reinforcing the strength of the brand and revitalising its iconic leaping cat logo. The company indicated that it would also scale back wholesale distribution, which it believes has eroded brand desirability through excessive discounting, and reduce inventory levels to improve efficiency.
The restructuring forms part of a broader effort to restore profitability and reposition Puma for sustainable growth in a highly competitive global sportswear market.
