HERZOGENAURACH, Germany — Puma SE, Europe's second-largest sporting-goods maker, reported a decline in first-quarter profit, underscoring the scale of the challenge facing Chief Executive Officer Bjoern Gulden to achieve a turnaround.

Earnings before interest and tax fell to 59 million euros ($80.9 million), Herzogenaurach, Germany-based Puma said today in a statement. Analysts predicted 58.8 million euros, according to the average of eight estimates compiled by Bloomberg. Puma reported profit of 79 million euros a year ago.

Puma, which repeated its forecast for unchanged annual revenue, is seeking to speed up decision-making and boost its performance-wear credentials as it grapples for market share with larger rivals Nike Inc. and Adidas AG. Controlling shareholder Kering SA has said it won’t acquire more sports and lifestyle businesses until it has turned around Puma, which has been undertaking restructuring since 2009.

This year “the brand will be re-established in the marketplace and brought back to a path of profitable and sustainable growth in the mid-term,” the company said today. Currency volatility may negatively impact full-year Ebit margin by about 50 basis points, the maker of evoPower soccer cleats also said.

A brand relaunch with a stronger roster of performance-wear products bodes well for the second half of this year and 2015, according to Nomura analyst Christopher Walker. Kering said last month it expects to see the first benefits of Puma’s 70 million- euro marketing campaign in September.

Gucci-owner Kering owns about 84 percent of Puma, which will sponsor eight teams at next month's soccer World Cup in Brazil. Cross-town rival Adidas, which will also supply uniforms to eight teams as well as the official tournament match ball, forecast in March that sales will rise at a high single-digit rate this year.