Welcome to our dedicated page for Under Armour news (Ticker: UAA), a resource for investors and traders seeking the latest updates and insights on Under Armour stock.
Under Armour, Inc. reports developments tied to its performance athletic apparel, footwear and accessories business. Company news commonly centers on quarterly and annual financial results, outlook updates, restructuring actions, brand and product initiatives, wholesale and direct-to-consumer activity, and partnerships in sports and youth athletics.
Under Armour operates across North America, Asia-Pacific, Europe and Latin America through wholesale partners, company-owned digital channels and company-operated stores. Updates also cover portfolio moves such as the UNLESS regenerative apparel platform, leadership changes, and efforts to focus the Under Armour brand within the competitive athletic-wear market.
Under Armour, Inc. (NYSE: UA, UAA) will close all U.S. retail locations for Thanksgiving on November 26, 2020, reopening on November 27. This decision supports over 6,000 retail employees, allowing them to celebrate the holiday. CEO Patrik Frisk emphasized the unpredictability of the year and the importance of recognizing team achievements. Under Armour aims to prioritize employee well-being while maintaining customer service throughout the holiday season.
Under Armour, Inc. has appointed Wes Moore, CEO of the Robin Hood Foundation, to its Board of Directors, effective October 1, 2020. Moore brings significant philanthropic experience, having distributed over $3 billion to combat poverty and promote racial justice. His leadership is expected to enhance Under Armour's community engagement and drive brand growth. Kevin Plank, Executive Chairman, expressed excitement over Moore's strategic insights, linking his background to the company’s mission of integrating purpose into business.
Under Armour reported its second-quarter financial results on July 31, 2020, revealing a 41% revenue decline to $708 million due to COVID-19 disruptions. Wholesale revenue fell 58% to $299 million, while direct-to-consumer revenue decreased 13% to $368 million. North America saw a 45% revenue drop. Despite a 280 basis point improvement in gross margin to 49.3%, the company posted a net loss of $183 million. Under Armour ended the quarter with $1.1 billion in cash and cash equivalents, though it remains cautious about ongoing market uncertainties.
Under Armour, Inc. (NYSE: UA, UAA) will release its second quarter earnings for the period ending June 30, 2020, on July 31, 2020, at 6:55 a.m. ET. Following this announcement, management will host a conference call at 8:30 a.m. ET to discuss the results. The event will be webcast live and available for replay approximately three hours after the call. This earnings report is anticipated to provide insights into the company's financial performance during a challenging economic period.