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Stock impact report

Nike's turnaround put to test as Middle East conflict poses new risks [BNN Bloomberg (Canada)]

Under Armour, Inc. Class C (UA) 
Last under armour, inc. class c earnings: 2/11 06:55 am Check Earnings Report
US:NYSE Investor Relations: investor.underarmour.com/investors.cfm
Company Research Source: BNN Bloomberg
The company on Tuesday warned of a sharp drop in current-quarter sales and slower-than-expected progress on its turnaround, as higher trade-related costs squeeze its margins and cautious consumers rein in spending. Shares of the company slumped 10 per cent to US$47.35 in premarket trading on Wednesday and were on track to open at their lowest in over a decade. On an earnings call, Chief Financial Officer Matthew Friend said the conflict in the Middle East had already disrupted shopping behavior in parts of Europe, the Middle East and Africa, contributing to softer store traffic and weaker sportswear sales. “The Middle East conflict is compounding the pressure, with Nike flagging traffic disruption and elevated inventory across EMEA,” said Josh Gilbert, market analyst at eToro. Nike CEO Elliott Hill, who took the helm in 2024, has been looking to steady the company as it grapples with several challenges, including a sluggish digital business, stubborn excess inventory and inte Show less Read more
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