Puma released its Q1 2025 results, reporting currency-adjusted sales growth of just 0.1% YoY to 2.076 billion euros ($2.23 billion). However, operating profit plunged 63.7% to 5.77 million euros ($6.2 million), down from 159 million euros ($171 million) in the same period last year. Gross margin fell to 47.0% from 47.5%. Regionally, sales in Asia-Pacific dropped 4.7% to 430.5 million euros ($463 million), attributed to continued weakness in Greater China. Sales in the EMEA region rose 5.1% to 891.7 million euros ($958 million), while the Americas declined 2.7% to 753.7 million euros ($810 million). Arthur Hoeld, a 26-year Adidas veteran, will take over as CEO on July 1.