Puma is climbing out of the slump with a new CFO and owner

Revenue at the struggling sportswear group Puma fell further last quarter. Yet there are encouraging signs: profits did improve, and the partial takeover by China’s Anta Sports is providing an extra boost. Now, a new CFO is also expected to turn things around.

China stands out as a growth driver

Puma reported a 6.3% decline in revenue to 1.86 billion euros in the first quarter of 2026, but at the same time a sharp increase (+19.6%) in EBIT to 51.9 million euros, despite 12.6 million euros in one-time restructuring costs. The gross margin rose by 60 basis points to 47.7%, driven by lower inventory levels, lower freight costs, and a higher share of direct-to-consumer (DTC) sales.