Note: Under Armour’s
UAA
Under Armour (NYSE: UA), a sports equipment company that manufactures footwear, sports, and casual apparel, is scheduled to report its fiscal second-quarter results on Wednesday, November 8. We expect Under Armour stock to trade higher post-fiscal Q2 2024 results with revenues and earnings likely beating consensus. The company’s stock traded lower this year as the company’s growth slowed down due to a heavily promotional market in the North American retail segment. Outside of the retail issue in North America where sales are forecast to dip 3% to 4% this fiscal year, Under Amour is seeing a booming business. The Europe, Middle East, Africa, and Asia Pacific regions expect double-digit sales growth rates for FY’24. The company is guiding to improving margins for FY’24, but the number will be below the 50.3% levels of FY’21. The company goal is only for gross margins to rally 25 to 75 basis points from the 44.9% level of FY’23. It is likely that the UA stock price will rise as the new CEO gets inventory levels under control in the second half of the year and turns around the North American market. Innovations continue to drive the company’s growth, and it’s just a matter of time before these products take center stage.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.