Puma share price drops 17 percent following profit warning

Puma SE (PUM) share price plummeted on Friday morning after the German sportswear company downgraded its annual forecast. Shortly after the announcement of disappointing quarterly figures and a pronounced expectation for a loss-making year, shares on the Frankfurt Stock Exchange shot down by 17 percent.

At the time of writing (Friday, July 25, 12:30 pm GMT+2), the price per share stands at 20.21 euros (23.71 dollars). Puma SE's most recent share price peak was on November 11, 2024. At that time, the price per share on the German stock exchange reached 47.11 euros.

Puma SE reported an 8.3 percent drop in sales at current exchange rates in the second quarter. Due to the disappointing quarter, the German company has been forced to convert its previous profit forecast into a loss. The company previously expected an annual profit of between 445 million and 525 million euros.

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