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Under Armour’s US Sales Are Starting to Grow Again

Shares for Under Armour Inc. are jumping today — the stock was up 1.3 percent to $19.98 at market open — after the brand posted second-quarter results that were modestly better than expected as it works toward transforming its business.
The Baltimore-based athletic label posted Q2 sales of $1.17 billion, a gain of 8 percent over the comparable period, besting analysts’ forecasts for sales of $1.15 billion. Notably, the company saw a return to growth in North America, where it has struggled recently amid blockbuster growth at Adidas and ongoing dominance at Nike. Sales in the region advanced 2 percent to $843 million.
However, as expected, the firm widened its net losses to $95.6 million, or 21 cents per diluted share (from $12.3 million last year). On an adjusted basis, losses were 8 cents per share and in line with market watchers’ forecasts.
“Through the first half of 2018, we are making progress toward our transformation of running a more operationally excellent company while amplifying the power of the Under Armour brand,” said chairman and CEO Kevin Plank, who previously suggested much of the brand’s recent challenges were the result of rapid expansion. “The ongoing improvements in our structure, systems and go-to-market process

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Via:: https://footwearnews.com/2018/business/earnings/under-armour-2018-sales-us-earnings-1202636648/