Puma Launches 100 Million Euro Share Buyback Programme

German sports apparel company Puma (PUMG.DE) announced plans to give back some of its profits to shareholders. They aim to return up to 50% of their net income, compared to the previous range of 25-35%.

Additionally, Puma will start a share buyback program in March 2024, intending to repurchase and cancel shares worth 100 million euros ($108.43 million) by May 6, 2025. Despite facing tough market conditions, Puma is striving to attract customers amidst financial constraints.

However, its shares have trailed behind competitors Adidas (ADSGn.DE) and Nike (NKE.N) in the last fourteen months due to lower sales.