Wednesday, February 12, 2020

Under Armour warns of big sales hit from coronavirus; may not open NYC flagship

Chain Store Age
Under Armour swung to a loss in its fourth quarter and warned that it expects first-quarter sales declines of $50 million to $60 million, mostly due to the ongoing coronavirus outbreak in China.

Amid signs that its turnaround plan has hit challenges, the athletic apparel and gear company said it is considering undertaking a restructuring plan to improve profitability. Among other things, the plan could entail not opening Under Armour’s long-anticipated flagship on Fifth Avenue in Manhattan.. . . more