NKE - Forget Under Armour Adidas Is a Better Footwear Stock
Under Armour's (NYSE: UA) (NYSE: UAA) stock was cut in half this year, as the COVID-19 crisis exacerbated its ongoing declines in its main North American market. The athletic footwear and apparel maker had already been struggling with tough competition, tariffs, regulatory probes regarding its accounting practices, and abrupt management changes -- but the pandemic amplified all those problems.
UA's revenue rose just 4% in 2018 and 1% in 2019. After the COVID-19 crisis hit, UA's revenue declined 23% annually in the first quarter of 2020, then plunged another 41% in the second quarter. It posted steep losses during both quarters.
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