Puma reports further revenue decline, remains in the red

Corporate restructuring and weaker demand linked to the Middle East conflict have impacted the sportswear manufacturer Puma's sales in the second quarter.

Revenue fell by almost ten percent to nearly 1.7 billion euros (1.96 billion dollars), the company announced on Friday in Herzogenaurach. The wholesale business in the American and European regions was particularly weak. Puma is currently reducing sales through this channel, especially in North America and Europe.

Puma therefore remains in the red. The adjusted loss before interest and taxes (EBIT) increased to 41.9 million euros, following a loss of 24.5 million euros in the previous year. The bottom-line deficit decreased by a good 70 percent to 72.8 million euros due to significantly lower one-off costs.

The company confirmed its forecast and continues to expect a decline in revenue and an operating loss.