The world’s third-largest sportswear company, Puma , is facing losses but plans a major turnaround. The Germany-based brand, trailing Nike and Adidas , will cut about 900 administrative roles and streamline its product portfolio by the end of 2026 under its new CEO, Arthur Hoeld.

Puma, headquartered in Herzogenaurach, reported losses in the first nine months of the year. Sales fell 8.5% to €5.97 billion compared with the same period last year, while consolidated earnings dropped by about half a billion euros. After nine months, the company posted a net loss of €257 million.

Moving forward, Puma intends to focus on its core categories of football, training, running and sports fashion. Its direct-to-consumer business—through its own retail stores and e-commerce—is expected to grow

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