Under Armour apparel is displayed at a Dick's Sporting Goods store on May 16, 2024 in Petaluma, California.
Under Armour on Thursday said sales are falling across its business, but the athletic apparel retailer posted better fiscal first-quarter results than feared, sending its stock surging in early trading.
Under Armour previously expected full-year earnings of 2 cents to 5 cents per share, and adjusted earnings between 18 cents and 21 cents per share.
The athletic apparel company is in the midst of a broad restructuring plan as it fights to regain relevance, reverse a sales slump and boost profits.
Apparel revenue fell 8%, footwear sales dropped 15% and accessories revenue slid 5%.
Persons:
Armour, It's, Stephanie Linnartz, Kevin Plank, Plank, Eric Liedtke, Eric, …, William Blair, Armour's
Organizations:
Sporting Goods, LSEG, Marriott, Armour's, Apparel, Adidas, UA
Locations:
Petaluma , California, North America