UAA - Can Under Armour Turn Around Its North American Business?
Under Armour (NYSE: UA) (NYSE: UAA) released its 2019 fourth-quarter earnings this week, and while global revenue increased, the overall 2020 outlook looks grim.
The main drag on sales is still the North American market, where the company is headquartered and where it's taken a beating over the past few years. In late 2019, the company announced a new CEO, and in early 2020 it rolled out a broad, new marketing strategy. But Under Armour isn't where it wants to be just yet, as improved results are taking longer than anticipated to take root.
Revenue for the quarter was up 4% to 1.4 billion, and North American revenue was growth positive for the first time since the second quarter of 2018. Operating income was $74 million, as compared to a loss of $10,447 in 2018. Net income was a loss per share of $0.03. Direct-to-consumer (DTC) sales increased 2% overall, brought down by North American numbers.