Tuesday, August 1, 2017

Under Armour Shares Fall as Retailer Cuts 2% of its Workforce, Trims 2017 Sales Outlook

Under Armour plans to cut about 2 percent of its global workforce as it restructures its business in the face of slumping sales.

On Tuesday, the sports apparel company reported a narrower-than-expected second-quarter loss, but shares fell as the company trimmed its sales forecast for the year.

Here's what the company reported vs. what Wall Street was expecting:

Earnings per share: a loss of 3 cents, adjusted, vs. an expected loss of 6 cents, according to Thomson Reuters
Revenue: $1.088 billion vs. a forecast for $1.077 billion, analysts said

One year ago, Under Armour reported a loss of 12 cents per share on revenue of $1.001 billion. . . . more

No comments: