The company now expects an earnings before interest and taxes loss for 2025.

It also expects annual sales to decline by a low double digit percentage, having previously forecast of low-to mid single digit-growth.

US President Donald Trump’s sweeping tariffs and uncertainty over his trade policies have sent global markets into a tailspin and significantly dampened investors’ economic optimism.

Analysts at JP Morgan said in a note that Puma’s quarterly results and revised outlook came in significantly lower than the broker’s expectations.

“We expect consensus earnings per share to come down accordingly following the revised guidance and expect a negative share reaction as the market opens,” analysts added.

Puma will host a press conference call at 09.30am and an analyst call at 3pm Friday.