Puma stock: ANTA becomes largest shareholder during reset
Published on 11/04/2026 at 17:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSReset progress and shareholder backing
- Third-quarter sales declined as PUMA reduced less attractive wholesale business and faced weaker demand in key regions.
- Gross margin and free cash flow improved, but higher operating costs left reported EBIT in negative territory.
- ANTA Sports became PUMA's largest shareholder as management prepares for a gradual recovery in 2027.
PUMA's reset showed mixed progress in the third quarter, while ANTA Sports became the sportswear group's largest shareholder in October. The company is still targeting a gradual recovery after a year of weaker demand and operational changes.
According to PUMA's October 30 release, third-quarter sales fell 6.3 percent on a currency-adjusted basis to 1,776.2 million euros. The decline reflected reset measures and weaker consumer demand in North America and EMEA, while Asia/Pacific sales rose 10.0 percent.
Margins improve despite operating pressure
Gross margin rose by about 420 basis points to 49.5 percent, supported by lower sourcing prices, channel mix, currency effects and a 29.8 million euro tariff refund. Higher operating expenses and 11.7 million euros of one-time cost-efficiency expenses nevertheless pushed reported EBIT to a loss of 11.4 million euros, compared with a profit of 16.2 million euros a year earlier.
Cash generation provided a counterweight. Free cash flow reached 92.0 million euros, compared with an outflow of 43.0 million euros in the prior-year quarter, while inventories declined 24.3 percent to 1,608.9 million euros.
Recovery remains gradual
PUMA kept its full-year currency-adjusted sales outlook for a low- to mid-single-digit decline. It narrowed the 2026 EBIT loss range to 80 million to 130 million euros from the previous range of 50 million to 150 million euros and lowered expected capital spending to below 150 million euros from around 200 million euros.
Management expects fourth-quarter sales performance to improve from the third quarter. The company is focusing on Running, Training, Sportstyle, direct-to-consumer channels and digital infrastructure, while Arne Arens is scheduled to join the Management Board as Chief Commercial Officer on November 15, 2026.
The real-time quote of Puma stock traded at 27.04 euros on Lang & Schwarz at 17:13 CET on Wednesday, November 4, 2026, 2.93 percent above the Xetra close of Tuesday, November 3, 2026.
PUMA SE stock facts
- Company: PUMA SE
- ISIN: DE0006969603
- Ticker: PUM
- Trading venue: Xetra
- Lang & Schwarz quote: 27.04 euros at 17:13 CET on November 4, 2026
- Change versus Xetra close: 2.93 percent above 26.27 euros on November 3, 2026
- Sector: Sporting goods
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