BERLIN – Organic sales at Puma fell 10.4 percent in the third quarter to 1.96 billion euros.

The German activewear firm blamed a strategic “reset” as it navigates “several company-specific challenges, including muted brand momentum, elevated inventory levels across the trade and low quality of distribution,” it said in a statement.

Measures taken so far included reducing undesired wholesale business and excess inventory at retail, as well as curbing promotional activity. All of these impacted Puma ’s performance in the third quarter, both at wholesale and in its own stores and online sales, the company explained.

Puma is also planning to reduce its “white collar” workforce by 900 positions, the company announced.

Puma’s new chief executive Arthur Hoeld — who previously held a numb

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