Under Armour posts earnings beat but no longer expects revenue to grow this year

Under Armour Inc.’s stock rose 5% Wednesday after the Baltimore-based sporting goods and footwear maker posted better-than-expected earnings for its fiscal second quarter, offsetting the lowering of its full-year revenue guidance.

“Consequently, we are maintaining our fiscal 2024 operating income and EPS outlook even as we lower our revenue expectations primarily in response to challenges in North America during the back half of the year,” she said in a statement. “Amid these conditions, we are, however, making progress on our premium wholesale distribution strategy in North America,” Linnartz told analysts, according to a FactSet transcript. “Leveraging the strength of key footwear franchises including Curry, our mall penetration is expected to be up more than 40% by the end of fiscal 2024. This is an early win and I’m confident that we will continue to gain premium shelf space.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Marqeta’s stock leaps as payments company posts upbeat earnings‘We’ve shown continued sales bookings momentum against a backdrop of operational discipline, continued scale and new innovations,’ CEO says
Source: MarketWatch - 🏆 3. / 97 Read more »

Philadelphia Theatre Company presents 'Macbeth in Stride' through Nov. 19The Philadelphia Theatre Company has two new co-artistic directors. To kick off their inaugural season, they're presenting an original work by a longtime friend and collaborator, who's turned classic Shakespeare Macbeth into a rock musical.
Source: 6abc - 🏆 250. / 63 Read more »