Under Armour (UAA) Stock Slides as North America Sales Disappoint
TLDR
- Under Armour cut its full-year revenue outlook to a mid-single-digit decline, worse than its prior “slight decline” forecast
- Q1 revenue fell 3% to $1.1 billion, in line with Wall Street estimates
- North America revenue dropped 9% to $609.8 million in the quarter
- UAA stock fell as much as 7% in early trading, settling around 3% lower at $6.22
- Adjusted EPS of 5 cents beat analyst expectations of 2 cents
Under Armour stock was trading around $6.22, down roughly 3%, after the company cut its annual revenue outlook on Friday.
The sportswear brand now expects full-year revenue to decline at a mid-single-digit percentage rate. That is a step down from its earlier forecast of just a “slight decline.”
CEO Kevin Plank said traffic trends weakened as the quarter progressed, particularly in North America and parts of Asia Pacific. The company responded by stepping up promotional activity to drive sales.
UNDER ARMOUR $UAA Q1’27 EARNINGS HIGHLIGHTS
🔹 Revenue: $1.1B (Est. $1.11B) 🔴; -3% YoY
🔹 Adj. EPS: $0.05 (Est. $0.02) 🟢
🔹 Adj. Operating Income: $52.4M
🔹 Gross Margin: 54.1%; +590 bps YoY… Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
