The Big Cat maintained its FY25 outlook, excluding any potential impacts from U.S. tariffs, in reporting Q1 net income just above breakeven at €0.5 million, down from €87.3 million, on revenues that were off 1% on a reported basis to €2,076.0 million ($2,185.3 mm) from €2,102.3 million. Sales were flat on a constant-currency basis. The bottom line reflects one-time costs of €18 million related to an ongoing, €75 million cost-efficiency program, which will include eliminating 500 staff positions by the end of Q2 and closing unprofitable stores this year.

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