Under Armour's strong footwear sales help drive earnings beat

. But the pandemic effects — more consumers shopping online and looking for clothes and shoes to workout in — are giving Under Armour a welcomed boost.Under Armour offered Wall Street a more upbeat outlook for 2020: It now expects full-year revenue to be down by a high-teen percentage rate. Previously, it had been calling for a drop of 20% to 25% in the second half of the year. Its new outlook, though still a decline, is better than the 25.7% drop that analysts had predicted.

Also Friday, Under Armour said it agreed to sell its MyFitnessPal workout platform to private-equity firm Francisco Partners, in a deal valued at up to $345 million. It acquired the business for $475 million in 2015. Apparel sales dropped 6% to $927 million, while footwear revenue surged 19% to $299 million, and accessories revenue jumped 23% to $145 million. The company said the boost in footwear is due in part to the launch of its first-ever, women's-specific basketball sneaker during the quarter. It also cited strength in the running category.

Over the next few years, Under Armour said, it expects to remove its brand from 2,000 to 3,000 wholesale stores in North America. Frisk said some of these are "larger customers," while he did not give specific retailers' names.

then the stock should fall.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Under Armour’s Better-than-expected Earnings and Sale of MyFitnessPal Causes Shares to SurgeMeanwhile, the footwear, accessories, international and e-commerce businesses gain traction, while the wholesale and North American divisions continue to lag. UnderArmour Um,no.
แหล่ง: wwd - 🏆 24. / 68 อ่านเพิ่มเติม »

This Is The Worst Week For Stocks Since March, With Four Days Left Before The ElectionThis is the worst week for stocks since March, with 4 days left before the election: KILLING IT OnceUponATime GO GE To be expected. HODL and buy $BTC. Lost $5k in value this week. They are pricing in Biden’s win
แหล่ง: Forbes - 🏆 394. / 53 อ่านเพิ่มเติม »

Samsung Electronics sees profit decline on weaker chip demand after strong third-quarter earningsSamsung Electronics Co Ltd said on Thursday it expects profits to fall in the current quarter after posting its highest operating profit in two years for the third quarter. In the future, Samsung hopes to change from the role of a market participant to the role of the market creator that Steve Jobs advocated.
แหล่ง: Reuters - 🏆 2. / 97 อ่านเพิ่มเติม »

Samsung sees profit decline on weak server chip demand after strong third-quarter earningsSamsung Electronics Co Ltd said on Thursday it expects fourth-quarter profit to fall due to weak server chip demand and rising smartphone competition, after posting its best quarterly operating profit in two years in the third quarter. I have just wasted my money on Samsung I have found that the cheaper cellphone is better than this A2core
แหล่ง: Reuters - 🏆 2. / 97 อ่านเพิ่มเติม »