Under Armour warns of margin pressure for rest of 2020 [Reuters]
Under Armour, Inc. Class C (UA)
Last under armour, inc. class c earnings: 2/11 06:55 am
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Source: Reuters
Under Armour warns of margin pressure for rest of 2020 (Reuters) - Under Armour Inc ( UAA.N ) ( UA.N ) said it expects margins to be pressured for the rest of the year on the back of increased promotions, even as online demand helped the sportswear maker post a smaller-than-expected loss. Shares of the Baltimore-based company, which surged during before the opening bell, were down about 7% in morning trading. Chief Financial Officer David Bergman warned on a call with analysts the company might not have adequate supply to meet higher demand, if the second half of the year recovers at a faster-than-expected rate. “Given the dramatic impacts across the retail landscape due to store closures, and inability to reduce supply as fast as demand, we’re anticipating that a highly promotional environment will materialize in the second half.” A major portion of sales to off-price channels being planned in the third and fourth quarters could result in “meaningful” gross margin pressures for t
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