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Cramer: I still have hope for Under Armour despite its weak quarterly earnings

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Under Armour Inc Nyheter

Retail Industry,Regwall-Investingclub,Stock Takes

Jim Cramer needs to see proof of a turnaround at Under Armor before buying the stock.

CNBC's Jim Cramer hasn't lost hope in Under Armour 's turnaround, despite Thursday's poor quarterly results and a grim outlook. "Under Armour is an incredibly popular brand but they're just not making a lot of money" Jim said Thursday on "Squawk on the Street.

Part of the grim outlook is related to Under Armour's announcement of a restructuring plan to strengthen the company's financial and operational efficiencies which is expected to "pressure out top and bottom line in the near term," CEO Kevin Plank said in the earnings release. The shakeup is also expected to include layoffs.

 

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