Puma, the German sportswear manufacturer, has announced the appointment of Markus Neubrand as its new Chief Financial Officer, effective October 1, 2024. Neubrand will succeed Hubert Hinterseher, who will step down on September 30, 2024, and leave the company by mutual agreement on December 31, 2024. Markus Neubrand recently served as Chief Financial Officer at…
Karthik Balagopalan Mumbai: German sportswear maker Puma said it continued to be India’s largest sports and apparel brand on the back of a 10% increase in sales last calendar year amid top management attrition and slowing demand for discretionary products. For the fiscal year ended December, its revenue stood at ₹3,274 crore, as per filings…
Representative image German sportswear maker Puma on Wednesday narrowed its outlook for full-year core profit as it reported its second-quarter results, citing expected currency headwinds, higher freight costs and continued muted consumer sentiment. Puma, which has recently launched new marketing initiatives in an effort to compete better with bigger rivals like Adidas and Nike, has…
A return to growth in the Americas helped Puma meet first-quarter sales forecasts and its order book for the rest of the year was looking “very good”, the German sportswear retailer said on Wednesday, helping lift its shares nearly 12%. Revamped and newly trendy shoes from the 1970s and 80s like Puma’s Palermo and Adidas’…
Investors want Zara owner Inditex to follow rivals H&M and Primark in making its full list of suppliers public so they can better assess any supply chain risks. Inditex is an outlier among big clothing retailers in not publishing which factories it sources from. Regulators and investors want greater transparency and better disclosure from companies….
German sports apparel company Puma plans to return up to 50% of its net income to shareholders, it said on Thursday The company will now return between 25-40% of the Group’s net income in dividends, up from 25-35%, the statement said. The first tranche of a share buyback programme will begin in March 2024 and…
Puma on Tuesday said it expects a weak first half of the year in a challenging market, but shares in the German sportswear brand climbed as it kept its dividend and stuck to the annual targets it set in January. Sportswear companies including Adidas, Nike, and Puma, have seen demand weaken as customers battling with…
Beyoung, an Indian D2C fashion brand, said it has received a strategic investment from the Royal Office of Sheikh Tahnoon Bin Saeed Bin Tahnoon Al Nahyan. The Royal family has made significant investments in the global start-up ecosystem with sectors spanning across real-estate, retail, genomics and deeptech. This strategic investment marks a pivotal moment in…
Nike on Thursday said it will cut about 2% of its total workforce, or more than 1,600 jobs, as the sportswear giant looks to cut costs after flagging weaker profits this year. Nike’s global peers Adidas, Puma and JD Sports , too, have warned of weaker earnings this year, as consumers cut back on non-essential…
LONDON: British retailer Marks & Spencer said on Thursday it has teamed up with Puma and Reebok as it looks to bolster its offering of external brands. M&S said over 140 products from the sportswear brands will be added to its website over February and March. The retailer launched its “Brands at M&S” strategy in…
