The Ratings Game: Under Armour shares skyrocket but competition with Nike is still a threat [MarketWatch]
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Source: MarketWatch
Under Armour shares skyrocket but competition with Nike is still a threat Under Armour Inc. shares have skyrocketed more than 25% in Tuesday trading, but analysts are sounding an alarm about being too optimistic after the athletic brand reported a decline in North America amid rising competition with Nike Inc. Under Armour UAA, +26.86% UA, +24.09% reported adjusted earnings per share that soared past consensus, and revenue of $1.44 billion that beat the $1.41 billion FactSet estimate. But North America revenue fell 2% to $1.1 billion. International sales were up 15%, but that represents 24% of total revenue, or $351 million. “[T]here has been a slowdown in both the athleisure and sports markets, which has affected many retailers and brands,” wrote Neil Saunders, managing director of GlobalData Retail, in a note. Select brands, like Lululemon Athletica Inc. LULU, +4.39% , have defied the trend. But Saunders says “weaker” brands like Under Armour have not. Read: Victoria’s
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