BERLIN – In the midst of a reset, Puma saw another disappointing performance in the third quarter, prompting it to revise down its low forecast for full-year operating profit.

Puma said sales fell 5 percent to 1.78 billion eurosin the three months to Sept. 30. This represented a 6.3 percent drop in currency adjusted terms.

“Our third-quarter performance was in line with expectations as we continued to move Puma through this transition year while laying the foundation for future growth,” chief executive officer Arthur Hoeld said in a statement.

Hoeld took on a moribund Puma in July 2025 and promised to clean up the brand’s inventory and stop over-discounting at mass merchants.…