New Puma CEO says turnaround will take time

warned it would take some time to turn around the sporting goods maker as it cut its profit outlook for the year and reported a 20 percent fall in operating profit. “I am therefore convinced that – although it will take some time – we will turn this business around and make ‘the cat’ shine again,” CEO Bjoern Gulden said on Friday, referring to the group’s nickname. Puma said operating earnings before special items came in at 80 million euros ($107 million) for the third quarter, against the average in a Reuters poll for 81.6 million euros.