Puma reported a narrower loss in the second quarter, the latest sign that the German sportswear brand’s turnaround effort is gaining traction.
The coming quarters will reveal whether this is a genuine recovery or a controlled decline, but for the first time in a year, the direction of travel is up.
Management has framed 2026 as a transition year, with the stated goal of restoring growth in 2027.
The brand’s cultural bets — a heavy presence in football and a rotating cast of athlete ambassadors — have kept it visible even as the balance sheet repairs.
