Under Armour Loses Another $183 Million in Quarterly Earnings

Just days after the Baltimore-based athletic apparel, accessories and footwear maker, along with two of its top executives — one of them founder Kevin Plank — were served with a Wells Notice from the U.S. Securities and Exchange Commission, recommending legal actions be taken against them for violating certain federal securities laws, the retailer reported a $183 million quarterly loss. That’s on top of the $590 million loss reported just a few months ago.

Despite the loss, the results were better than expected, causing shares of Under Armour to shoot up nearly 20 percent during pre-market hours. But the stock quickly reversed Friday morning after the market, falling nearly 8 percent. Shares are down more than 54 percent year-over-year. Still, there were a few bright spots during the quarter, such as Under Armour’s run category — both in footwear and apparel — and its e-commerce business.

That includes the updated web site, customer relationship management technology, new store concepts and 3-D digital product design and development.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

'Pandemic and advertiser boycott create heightened uncertainty': Here's what 3 analysts expect from Facebook's quarterly earnings | Markets InsiderFacebook will release second-quarter figures after markets close on Thursday, giving investors an update to how it's fared throughout the corona...
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

YouTube Revenue Falls to $3.8 Billion as Pandemic Hits Ad BusinessDespite the slowdown, executives at parent company Alphabet told investors in its quarterly earnings report that business was beginning to bounce back after the ad market hit the skids in mid-March.
La source: THR - 🏆 411. / 53 Lire la suite »

Ford reports earnings after the bell, and analysts expect billions in losses from the coronavirus pandemicFord CFO Tim Stone warned investors in April that the company expected to lose more than $5 billion, on an adjusted pretax basis, during the second quarter. Ford is a dinosaur of a company. Way behind the times and most of its products are poor quality, just like GM and Chrysler. Can't be good news if everybody is waiting until after close Fix Or Repair Daily. FORD.
La source: CNBC - 🏆 12. / 72 Lire la suite »