Puma Plunges as New CEO Cuts Outlook on Weak Demand, Tariffs (2)

Puma SE shares plunged as much as 19% after the German brand slashed its profit forecast on weak demand for its sports and exercise gear and growing concerns about the impact of US tariffs.

It’s the third major rout this year for the company, which is trying to rebuild under a new chief executive officer who took over this month after his predecessor missed out on the retro sneaker craze that buoyed Adidas AG. Puma’s thin-soled Speedcat has failed to capture anything close to the interest its rival’s Samba shoe has generated with consumers in Europe and North America.

Puma ...