PUMA Reports Strong Q1 Profit Growth Amidst Slight Sales Decline

PUMA has reported a significant recovery in its first-quarter profitability, with profit from continuing operations surging to 26.5 million euros, compared to just 1.1 million euros in the same period last year. This recovery is reflected in the earnings per share from continuing operations, which rose to 0.18 euros from a breakeven result in the prior year. The results highlight a period of operational efficiency and margin improvement, even as the sportswear giant navigates a challenging top-line environment. EBIT grew by 19.6% to 51.9 million euros, driven by a higher gross profit margin and reduced operating expenses. Adjusted EBIT, which excludes one-time effects, increased to 64.4 million euros from 61.3 million euros. On the revenue side, PUMA reported sales of 1.86 billion euros. This represents a 1.0% decline on a currency-adjusted basis and a 6.3% drop in reported terms, a trend the company attributed in part to inventory clearance efforts. Despite the pressure on sales, management has confirmed its full-year 2026 outlook, signaling confidence in the company's long-term trajectory. At the last close, PUMA shares were trading at 24.68 euros, down 1.28%, as investors weigh the improved profitability against the softening revenue growth.