FRANKFURT (Reuters) - Sportswear firm Puma said it is pulling out of the sailing market to concentrate on other sports such as football and running to rebuild its flagging business, leaving an Americas Cup team seeking a new sponsor.
The German company, which on Thursday reported a 70 percent drop in its annual profit, is going through its biggest reorganisation in 20 years to restore the business and get its products back in fashion in the United States, Europe and China.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
