US EditionWhy Is Under Armour Stock Sinking Friday? - Under Armour (NYSE:UAA), Under Armour (NYSE:UA)
MARYLAND, UNITED STATES, AUG 8 – Under Armour forecasts revenue decline of 6-7%, citing tariffs, supply chain costs, and soft demand, with North America sales down 5%, CEO Plank says turnaround faces challenges.
- On Friday morning, Under Armour, Inc. shares fell more than 13% after projecting a 6% to 7% revenue decline for fiscal Q2, missing Wall Street estimates.
- Mounting tariffs pressured the company, with Kevin Plank warning that new tariffs will add $100 million in costs and impact demand.
- Despite weak demand, Under Armour detailed segment results: apparel sales fell 1% to $747 million, footwear dropped 14% to $266 million, accessories rose 8% to $100 million, and international revenue dipped 1% to $467 million.
- Reporting a net loss, Under Armour, Inc. reported a GAAP net loss of $3 million and adjusted net income of $9 million, short of analyst forecasts of $10.8 million.
- CFO David Bergman said measures like exploring alternative suppliers and price increases won’t impact finances until next fiscal year, likely delaying the turnaround efforts.
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Under Armour is a brand, not a company, CEO says as stock sinks
By the time CEO Kevin Plank started his quarterly report to investors Friday morning, Under Armour’s stock had already dropped 20% in pre-market trading. Revenue is down. Shoe sales are plummeting. And tariffs are about to pummel the Baltimore-based sports apparel company
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Leaning Left3Leaning Right1Center2Last UpdatedBias Distribution50% Left
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- 50% of the sources lean Left
50% Left
L 50%
C 33%
R 17%
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