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Reading: Puma races to cut costs after FY profit miss sends stock lower (Pink Current Info:PMMAF)

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Puma races to cut costs after FY profit miss sends stock lower (Pink Current Info:PMMAF)

Last updated: January 23, 2025 10:08 am

By MT HANNACH

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Ralph Sampson, PUMA and SeventySix Capital will host a Pitchfest for Houston startups and award $20,000 to the winning entrepreneur — Bob Levey/Getty Images Entertainment

cougar (OTCPK: PMMAF) launched a cost-cutting program on Wednesday after the German sportswear maker missed its full-year profit estimates, sending its shares tumbling.

Frankfurt-listed Puma shares fell 14% in early trading on Thursday.

The company stated that it net profit amounts to 282 million eurosbelow the level of the previous year