Puma shares plunge after missing profit target
While this increased revenue, it weighed on Puma’s profit margin. The company is aiming to boost its margin through cost cutting, which it said would include reallocating staff to “strategic growth areas” such as marketing, while keeping the total headcount “stable”.
Puma Announces Cost-Cutting
German sportswear giants Adidas and Puma have both said they are seeking to reduce costs, including through possible job cuts, as they aim to bolster profits.
Puma SE reported a 9.8% sales growth in Q4 FY24 and launched a new efficiency program aiming to enhance profitability through cost control measures and strategic investments.
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German sportswear giants Adidas and Puma have both announced they are seeking to reduce costs, including through possible job ...
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