Puma SE

Okay.

What about the news from Puma?

Yeah, so some management uncertainty there for Puma, so the chief commercial officer, uh, will be stepping down on September 30th for personal reasons.

Um, this adds a little bit of uncertainty on the strategy given that Puma is currently, uh, in the middle of a big turnaround, so, uh, the latest results showed that some progress had been made on this, uh, s- reset, the strategic reset.

Uh, but s- the sales are still likely to continue being very weak throughout the rest of this year, of twenty twenty-six, with, uh, the focus being mainly on clearing the, the, the inventory and the hope that things that can sort of get back on track starting in twenty twenty-seven.

Um, it's been quite a tough time overall for those sportswear stocks.

We had Lululemon cutting its guidance recently.

Nike and Adidas are struggling to get back in investors' good graces, and so for Puma, there is this kind of broader, uh, sector weakness and then this additional uncertainty from, uh, from this management change as well, weighing a little bit on the shares this morning.

Still, shares of Oracle up as much as 7.5% earlier in the session, ended up falling today by 1.8%.

And, uh, let's look at what happened with ADRs of, of the apparel company Puma today.

PUM is the ticker, PUMGY.

Fell 2.4%.

Uh, Chief Commercial Officer Matthias Balmer is stepping down from management board at the end of this month.

RBC Capital Markets also separately slashed its EBIT estimates for the company, citing a challenging marketplace.

Uh, the company, Puma, cited personal reasons behind Balmer's decision, and, uh, the company says that a successor will be announced in due course, with the CEO, Arthur Hull, to oversee the company sales organization and subsidiaries in the meantime.

And finally, a little bit of, uh, next generation energy, uh, these small modular reactors.

In Norway, the only thing I can see is that stores here are not able to get Nike shoes.

They can get unlimited with Puma, Asics, Brooks, New Balance, all the other, but Nike is very, very limited.

Yeah, I heard similar, uh, the other day about the UK as well.

It's not every store's got Nike in there.

Here we are again in August.

What a treat for the listeners.

We had a great session with Damian Perry from Puma last week, and we had planned to talk about our own shoe rotation and updates and listener questions with Damo in the background, but he was just too good, fellas.

So we, we thought, "Let's do an hour with Damo, and then let's come back this week and talk about our own rotation, uh, and do a regular Shoe Geeks that goes to Patreon only." So just on that, I'm not sure whether we've made it clear or not, but if you're a Patreon, you might be listening to this, uh, and you get access to what we're talking about.

Do they?

But also it comes from playing soccer all those years, where soccer shoes are Adidas, Puma, Diadora.

True.

You know? So I wore those shoes for a while.

I probably do.

Whenever I see you, you're the tannest dude I know.

What about your brother from Puma?

[laughs] Yeah.

Nike and

have fish skin leather products now and that's really quite far removed from the seafood sector yeah Yeah, that's

so cool.

Companies have tried to price it in and put nature on the balance sheet.

I think Puma and some other companies have, but it's a global effort and it's a system change challenge that's massive.

But we do know that the investors and capital is starting to shift and become available.

I think Morgan Stanley, some nature-specific bonds, which is great, but we need it to move quicker, right?

Like there's different ones out there.

I would not be rushing to something like a Puma Fast R or like – I don't even like – I don't know.

There's a bunch of different ones you could go, but I'd be looking more at like just something that feels stable to you because – Even like Alpha Flies, I don't know.

Just have a try.

You got to try them as well.

And you want something that has stability.

So even if you wanted like a carbon plated, like a trainer shoe, like a Magic Speed or, you know, I know Puma's got some.

I know like New Balance has like the plated trainers.

The easy one.

This sportswear giant, known for its signature three stripes, has what brand name? Adidas, Puma or Nike? This sportswear giant, known for its signature three stripes, has what brand name? Adidas, Puma or Nike? Question number two is worth two points.

The medium one.

What word describes a grab? What word describes a crab that has been prepared for eating? Decorated, dressed or drawn? What word describes a crab that has been prepared for eating? Decorated, dressed or drawn? And finally, question number three is worth three points.

Like, as I said, I'm just in this position where I really am like thinking a lot more these days rather than reacting.

I took the whole summer to sit back, um, I left my biggest partner of four years, which is Puma.

I'm stepping away from decisions that I don't want to be involved in without absolution.

I'm not just going to participate because it's an opportunity.