Puma rises on adjusted EBIT beat in Q1

Shares in Puma PUMG.DE rise around 3% after the sportswear brand reported Q1 adjusted EBIT above market expectations

Adjusted EBIT was 75.7 million euros ($85.34 million) vs analysts' estimate of 70.6 million euros

Gross profit margin falls 60 basis points to 47%, impacted by cost cutting measures

It also confirms guidance for 2025, but says this excludes potential impacts from U.S. tariffs

J.P.Morgan analysts say that despite broader uncertainty, "on such light positioning and cheap valuation, we would anticipate the share squeezing first thing this morning"

Puma shares have dropped 45.8 YTD including Thursday's rise

($1 = 0.8871 euros)