Puma announces harsh decision amid declining sales
The athletic footwear company is making a major change as customers shift gears.
Puma (PMMAF) , which is famous for its athletic footwear, recently launched ad campaigns with celebrities such as A$AP Rocky, Winnie Harlow and Dua Lipa. However, it is sounding the alarm on a major shift in customer behavior.
Even though Puma generated a boost in sales during the holiday season last year, with sales increasing by almost 10% year-over-year, it recently flagged that its performance is softening in the U.S. and China.
