UAA - Why Is Sportswear Company Under Armour Stock Tanking Today? | Benzinga
Under Armour Inc (NYSE:UAA) (NYSE:UA) shares are plunging after the company declared gloomy guidance.
The company reported a fourth-quarter FY24 sales decline of 4.9% year-on-year to $1.330 billion, meeting the analyst consensus estimate.
Wholesale revenue decreased 7% Y/Y to $850 million, and direct-to-consumer revenue was flat at $455 million.
Apparel revenue slipped 1% Y/Y, Footwear dropped 11%, while Accessories revenue decreased 7%. North America revenue decreased 10% to $772 million, and international revenue increased 7% to $561 million.
Gross profit decreased 1% to $599.6 million, and the gross margin expanded 170 basis points to 45%.
The company incurred ...