Under Armour Inc.s (NYSE: $UAA) stock tumbled nearly 10% in pre-market trading Thursday but bounced back when the markets opened while the founder and CEO Kevin Plank explained the companys restructuring plans going forward during an earnings call.
The Baltimore-based sportswear maker announced a grim 2025 outlook, announcing that sales in North America, its largest market, fell 10%. UA expects sales to worsen, anticipating a steeper drop between 15% and 17% in its fiscal year.
The company also said its profits fell more than 96% during the fourth quarter of fiscal 2024 compared with the year-ago period, and sales dropped to $1.33 billion, down about 5% from $1.4 billion a year earlier.
Plank blamed the rough quarter results on a confl…
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