PUMA Shares Fall to Six-Year Low After Group Narrows 2024 Profit Forecast

German sportswear label PUMA saw its share price fall to a six-year low, after the company narrowed its profit forecast for the year due to "cautious consumer sentiment and higher freight costs" earlier this week, according to MarketWatch.In its latest earnings report, the group projected that its full-year profit would tally between €620 million EUR and €670 million EUR, down from its original estimate of €700 million EUR. As a result, PUMA's shares dropped by 13% to reach €36.20 EUR, a...