Under Armour CEO Patrik Frisk says 'tentative' shoppers are here to stay thanks to pandemic [MSNBC.com]
Under Armour, Inc. Class C (UA)
Last under armour, inc. class c earnings: 2/11 06:55 am
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Source: MSNBC.com
Under Armour's"The consumer is there, but they are still nowhere near pre-Covid levels ... there is hesitancy there,""The consumer is out there shopping, and when they do shop conversion is better," he explained. "But the traffic is still depressed. ... We think that kind of tentative approach from the consumer is going to stay."Under Armour shares were falling more than 7% Friday morning, after management said during an earnings call that thecompany is forecasting revenue to be down between 20% and 25% in the back half of the year"We are taking a more conservative outlook around the back half of the year," Frisk said on CNBC."We don't know how the consumer is going to be navigating the back half of this year … how back-to-school is going to play out," he said.Under Armour isn't alone in navigating such uncharted territories in the retail industry. Analysts saythe back-to-school and holiday shopping seasons this year could be like nothing these companies have ever experienced beforeFe
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