Puma shares rose 6.4% after Q1 earnings surpassed estimates and outperformed Adidas's gains.

Puma shares rose 6.4% after reporting Q1 earnings that topped analyst estimates and surpassed their rival Adidas's 20% year-to-date gains. Demand for Puma's retro terrace-style shoes has helped boost sales of sportswear brands like Puma and Adidas amid weaker consumer demand and excess stocks. The German brand's first-quarter sales met expectations, rising 0.5% to €2.1bn, driven by a return to growth in the Americas region.