Puma Reports Largest Loss in Company History

Mar 3, 2026

by Chris

Puma

7K views

Financial Loss: Puma reported a net loss of €643.6 million for 2025, a significant downturn compared to the previous year's profit.
Restructuring Plan: Puma has launched a restructuring program to address excess inventory and discounting, focusing on reducing product volumes and expanding direct-to-consumer sales.
Market Position: Puma aims to regain its position as the world’s number three sports brand, despite recently falling behind competitors like Skechers and Anta Sports.

While Adidas is virtually printing money currently, Puma has posted the biggest loss in its nearly 80-year history, reporting a net deficit of €643.6 million for 2025. The year before, the German sportswear brand had recorded a profit of €280.7 million.

Puma Loses €643 Million in 2025

Revenue declined by 13.1% to just under €7.3 billion. CEO Arthur Hoeld described 2025 as a “reset year” and confirmed that losses are expected to continue in 2026, with a return to growth targeted for 2027.

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Puma has struggled with excess inventory and heavy discounting, as retailers sold products at significantly reduced prices. The company has launched a restructuring program that includes reducing product volumes, focusing on core sports categories, expanding direct-to-consumer sales and closing unprofitable stores. Remaining stock will be sold through factory outlets and selected partners, with no destruction of goods planned.

Adidas' operating profit rose by 54% to €2.06 billion

Meanwhile, Adidas exceeded its own forecasts for 2025, reporting a record revenue and a sharp increase in operating profit - operating profit rose by 54% to €2.06 billion.

In the global sportswear ranking, Puma has recently fallen behind competitors such as Skechers and Anta Sports. Its long-term goal remains to re-establish itself as the world’s number three sports brand behind Nike and Adidas.

Can Puma’s restructuring plan restore the brand’s position among the top three globally, or will the competitive pressure continue to grow? Let us know your thoughts in the comments.