In its most recent press release, Puma announced it will initiate a “NextLevel cost efficiency programme” in response to flat currency-adjusted sales for the first quarter.
Markus Neubrand, Puma’s CFO, stated, “Despite the challenges we had to face in the first quarter, such as a slightly decreasing gross profit margin and higher operating expenses, we remain committed to executing our nextlevel cost efficiency program which is progressing as planned. We are on track to have approximately 500 corporate positions reduced globally by the end of the second quarter 2025.”
Moving into Q2, the CFO joined a long line of companies who are wary moving forward, due to tariffs, “We will potentially change our pricing. We are prepared for such a scenario to mitigate the impact of tariffs.”
“In the evolving global trade landscape and amidst macroeconomic volatility, we concentrate on controllable factors and diligently serve our retail partners, consumers, and brand ambassadors. Our outlook for the financial year 2025 remains unchanged. Due to the highly uncertain implications from the U.S. tariffs, we are not quantifying the potential implications at this stage.”
“We already reduced U.S. imports from China and we will continue to remain agile and ready to manage the increased market volatility and swiftly respond to changing external conditions,” Neubrand concluded.
Read our exclusive interview with Puma President and CEO Bob Philion
By CEO NA Editorial Staff
