Puma shares plunge 23% as weak profit shakes confidence

Puma's market value dropped over 22% after reporting lower than anticipated Q4 sales and a decline in annual profit. The company aims to increase its presence in the competitive sportswear market, dominated by Adidas and Nike, but struggles with brand perception and competition from newer players. Puma is focusing on cost-cutting and strategic investments to boost growth.

from Stocks-Markets-Economic Times https://ift.tt/P2YNCkJ