Puma Posts Bruising Q3, To Cut 900 Jobs

BERLIN – Organic sales at Puma fell 10.4 percent in the third quarter to 1.96 billion euros. The German activewear firm blamed a strategic “reset” as it navigates “several company-specific challenges, including muted brand momentum, elevated inventory levels across the trade and low quality of distribution,” it said in a statement. More from WWD Measures taken so far included reducing undesired wholesale business and excess inventory at retail, as well as curbing promotional activity. All of these impacte ...