Preliminary Q2 2025 Puma SE Earnings Call Transcript
Key Points
- Puma SE (PMMAF) reported a 9.2% growth in its direct-to-consumer business, driven by a 19.4% increase in e-commerce sales.
- Footwear sales increased by 5.1%, driven by the running and sports categories.
- The company is taking decisive actions to align its cost base and ensure competitiveness, including strategic pricing adjustments and optimizing the supply chain.
- Puma SE (PMMAF) is committed to transparency and proactive communication, as evidenced by the early update of its guidance.
- The new CEO, Arthur Hoeld, is focused on a thorough assessment and strategic reset to unlock the brand's potential and establish a foundation for long-term sustainable growth.
- Sales in the second quarter decreased by 2% in constant currency, with significant declines in key markets such as North America, Europe, and Greater China.
- The gross profit margin decreased by 70 basis points to 46.1%, impacted by promotions and currency headwinds.
- Adjusted EBIT ended up at minus EUR13.2 million, driven by a lower gross profit margin and non-recurring charges.
- Elevated inventory levels are leading to lower full-price realization, and the company expects this issue to take up to 12 months to resolve.
- Puma SE (PMMAF) revised its full-year guidance, anticipating a low double-digit decline in currency-adjusted sales and a loss in EBIT for 2025.
Ladies and thank you for standing by. Welcome and thank you for joining the preliminary Q2 2025 Puma SE. Throughout today's recorded presentation, all participants will be in listen-only mode. (Operator Instructions). I would now like to turn the conference over to Oliver Maier Interim Director Investor Relations. Please go ahead.
Thank you very much. I would like to welcome all of you to our conference call to discuss Puma's preliminary second quarter results for 2025.
Joining me on the call today is our CEO, Arthur Hoeld , who joined the Puma team on July 1 and our CFO Markus Neubrand.
Markus would set the scene for today's call and take you through a short presentation where we would like to explain the major moving parts of the information disclosed last night.
I'm very happy that Arthur decided to join our call as I'm sure he would be keen to share his first observations of the last four weeks and use the opportunity to put things into perspective.
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