Under Armour Inc. shares tumbled more than 15% Tuesday after the company reported quarterly results that highlighted its sales struggles in North America.
Chief Financial Officer David Bergman said the outlook reflects the company’s efforts to lessen its reliance on off-price channels, which have hurt profits in the past. The key question for Bernstein analyst Jamie Merriman is whether improvements to profitability will be enough to support Under Armour’s stock while the company only manages to grow overall sales by a low single-digit rate. With shares trading at a premium relative to apparel peers, she’s doubtful investors will be too forgiving.
D_Alban4
Still too high
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