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☆ Under Armour shares surge 20% after posting 'better than feared' quarterly sales
▼ + stars: | 2024-08-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

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

☆ Here are Tuesday's biggest analyst calls: Apple, Nvidia, Tesla, Krispy Kreme, Skechers, Amazon, First Solar, Qualcomm and more
▼ + stars: | 2024-07-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley upgrades Skechers to overweight from equal weight and downgrades Under Armour to underweight from equal weight Morgan Stanley said its Skechers channel checks looked promising. "We initiate coverage of LandBridge (LB) with a Buy rating and a $35 price target following its IPO last month." Morgan Stanley reiterates First Solar as overweight Morgan Stanley said First Solar could benefit from a new Trump administration. Morgan Stanley reiterates Amazon as top pick Morgan Stanley said Amazon is its favorite pick ahead of earnings, but that the firm also likes Alphabet and Meta. Morgan Stanley initiates Alumis as overweight Morgan Stanley said it's bullish on shares of the immunology company.

Persons: TD Cowen, Morgan Stanley, Armour, Bernstein, Apple, Guggenheim, Tesla, Baird, it's, Krispy Kreme, Goldman Sachs, Goldman, Trump, Wells, Piper Sandler, Piper, TD Cowen downgrades Darden, Cowen, Oppenheimer Organizations: Procter, Gamble, HSBC, CrowdStrike, Qualcomm, JPMorgan, Goldman, Barclays, Nvidia, Amazon, Microsoft, Citi, Rio Tinto, Deutsche Bank, Aerospace, Deutsche, Farnborough Air, Darden Locations: Rio, Olive, stagnate

☆ PIPs have rankled the Wall Street Journal newsroom and are at the center of a new lawsuit
▼ + stars: | 2024-07-09 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Read previewAn uptick in disciplinary actions during Emma Tucker's reign at The Wall Street Journal has unnerved the newsroom, and now a former Journal reporter has filed a lawsuit challenging them. The lawsuit, filed by Stephanie Armour, alleges that she was fraudulently targeted for dismissal starting in April 2024 despite excelling in her job. Some said they saw the moves as a way to get rid of high-earning employees who are protected from being fired without cause by Journal publisher Dow Jones' union, IAPE. It was formed after Rupert Murdoch's acquisition of Dow Jones in 2007 to allay concerns of Dow Jones' longtime former owners, the Bancroft family. Dow Jones and editorial leadership haven't immediately responded to requests for comment from Business Insider.

Persons: —, Emma Tucker's, Stephanie Armour, they've, Dow Jones, Jodi Green, Rupert Murdoch's, Bancroft, Tucker's, Damian Paletta, Janet Adamy, Armour, Paletta, Amour, I'd, I've, Robert Housman, Housman, haven't, Tucker, Lucia Moses Organizations: Service, Wall, Business, Dow, Journal, Dow Jones & Co, Washington, District of Columbia, Hill Partners Locations: lmoses@businessinsider.com

☆ How Trump's presidency became a roller-coaster ride for many of America's top CEOs
▼ + stars: | 2024-05-21 | by ( John L. Dorman | ) www.businessinsider.com time to read: +9 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In August 2017, a Trump Tower event meant to provide updates about Trump's infrastructure plan became dominated by his response to the violence in Charlottesville. And in February 2018, Trump's infrastructure proposal took a back seat amid accusations of misconduct by two close aides. But after the election, Trump invited a broad array of tech leaders to Trump Tower and expressed a desire to work with them on innovation. In 2020, several tech leaders — including Cook — were critical of Trump's visa restrictions that would impact highly-skilled foreign workers in the industry.

Persons: —, Donald Trump, Hillary Clinton, Trump, Steve Mnuchin, Goldman Sachs, Gary Cohn, Wilbur Ross, Trump's, Elon Musk, Heather Heyer, Andrew Harnik, I've, Kenneth Frazier, Kevin Plank, 3M's Inge Thulin, Brian Krzanich, , Jim Comey, we've, Senate — Trump, Joe Biden, Tim Cook, Manuel Balce Ceneta, he'd, Jeff Bezos, Biden, Cook, Cook — Organizations: Service, White, National Economic Council, Business, Democrats, GOP, Tesla, AP, Merck, American Manufacturing Council, Policy, Trump, House, Republicans, Senate, Amtrak, Apple, Twitter, Democratic Locations: United States, Charlottesville, Va, weren't, Paris

☆ Under Armour was a real threat to Nike. Now it’s fighting to stay relevant
▼ + stars: | 2024-05-18 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +10 min

It was the upstart athletic brand that was making real inroads against Nike, the dominant name in the industry. People saw it as a company that actually could break through and take market share from Nike among the hardcore athletes,” Swartz said. String of controversiesThe period from 2016 onward is when “things really started to fall apart” at Under Armour, Swartz said. A bulk of Under Armour products are sold through sporting goods retailers and department stores, including Macy’s and Kohl’s, and online. The basketball superstar Curry, arguably the best shooter in history, famously signed with Under Armour instead of Nike in 2013.

Persons: Armour, Stephen Curry, Jordan Spieth, Kevin Plank, Howard Schultz’s, Bob Iger’s, Plank, ”, David Swartz, Morningstar, ” Swartz, Justin Sullivan, Tommy Gilligan, ” Plank, Swartz, “, —, Stephanie Linnartz, ” Schwartz, Andrew Kelly, Merrell, Zak Stambor, Stambor, Plank’s, Noel Celis, Eric Smallwood, Dwayne Johnson, Johnson, ” Smallwood, Smallwood, Curry, Joel Embiid, Embiid, Skechers, Caitlin Clark Organizations: New, New York CNN, Nike, Starbucks, Disney, CNN, Sports, North, Maryland Terrapins, Southern Methodist Mustangs, Capital, Maryland, Reuters, —, Armour, Sports Authority, Sporting Goods, UCLA, US Securities and Exchange Commission, Footwear News, Adidas, NBA Golden State Warriors, UA Curry II, Getty, Apex Marketing, United Football League, NBA, WNBA Locations: New York, San Rafael , California, North America, College Park , Maryland, Manhattan , New York, Petaluma , California, Manila, AFP

☆ CNBC Daily Open: Dow briefly tops 40,000 for the first time, meme stocks down but not out
▼ + stars: | 2024-05-17 | by ( Abid Ali | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow breaks through 40,000 barrierThe Dow Jones Industrial Average briefly passed the 40,000 mark for the first time before ending lower. The S&P 500 and Nasdaq also hit record highs but ended the session in negative territory. The Dow has climbed nearly 6% in 2024, while the Nasdaq and S&P 500 are up 11% each. [PRO] New S&P 500 targetsWall Street's recent record highs have prompted market analysts to revise their S&P 500 year-end price targets.

Persons: Dow, John David Rainey, We've, Armour, Armour's, Kleiner Perkins, Bob Pisani Organizations: CNBC, Dow Jones Industrial, Nasdaq, Walmart, GameStop, AMC Locations: North America, Sequoia

☆ Under Armour is laying off workers as retailer says North America sales will plunge this year
▼ + stars: | 2024-05-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Under Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year. The athletic apparel retailer also saw profits plunge by more than 96% during its fourth fiscal quarter, compared with the year ago period. During the quarter, sales in North America dropped 10% to $772 million, worse than the $780 million that analysts had expected, according to StreetAccount. The company said it expects sales to continue to worsen in North America. Analysts had expected earnings per share of 52 cents, according to LSEG.

Persons: Armour, Kevin Plank, Stephanie Linnartz, Plank, Linnartz Organizations: CNBC, LSEG, Analysts, Marriott, Armour Locations: Manhattan , New York City, North America

☆ Why Under Armour's stock is tumbling
▼ + stars: | 2024-05-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Under Armour's stock is tumblingSam Poser, Williams Trading analyst, joins ‘Squawk Box’ to discuss Under Armour as the company's stock took a hit after issuing lower-than-expected full-year earnings guidance, why the company hasn't been able to break out despite having big names like Tom Brady and Stephen Curry associated with it, and more.

Persons: Sam Poser, Armour, hasn't, Tom Brady, Stephen Curry Organizations: Williams Trading

☆ Cramer: I still have hope for Under Armour despite its weak quarterly earnings
▼ + stars: | 2024-05-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer hasn't lost hope in Under Armour 's turnaround, despite Thursday's poor quarterly results and a grim outlook. Quarterly revenue for Baltimore-based Under Armour declined 5% year over year to $1.3 billion, in line with Wall Street expectations. On those sales, the company delivered $7 million in net income or earnings per share of 2 cents. UA YTD mountain Under Armour stock performance year-to-date. The Under Armour brand does resonate overseas.

Persons: CNBC's Jim Cramer hasn't, Armour, Jim, Kevin Plank, Plank, Stephanie Linnartz, hasn't Organizations: UA, North America Locations: Baltimore, North

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now, he's trying to turn the company around by stepping up for a second stint at its helm. The sportswear brand said March 13 that Plank will take over its CEO role again more than four years after he left the position. The company has also struggled to define itself against competitors — most notably Nike.

Persons: Armour, —, Kevin Plank, Plank, Stephanie Linnartz, Armour wasn't Organizations: Service, Nike, Armour

☆ Stocks making the biggest moves midday: Dick's Sporting Goods, Lennar, Robinhood and more
▼ + stars: | 2024-03-14 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Dick's Sporting Goods — Shares jumped 14% after the sporting goods retailer posted fourth-quarter results that exceeded expectations. Dick's Sporting Goods reported earnings of $3.85 per share on revenue of $3.88 billion. Analysts surveyed by LSEG, formerly Refinitiv, had expected earnings per share of $3.35 on revenue of $3.80 billion. In its first quarter, Lennar reported revenue of $7.31 billion, weaker than the $7.39 billion expected by analysts polled by LSEG. UiPath — Shares tumbled 7.4% after the enterprise automation company posted revenue guidance that was weaker than expected.

Persons: LSEG ., SentinelOne, LSEG, Robinhood, Wells, Joe Biden, Armour, Kevin Plank, Plank's, Evercore, MicroStrategy, Oprah Winfrey, —, Lisa Kailai Han, Alex Harring, Pia Singh Organizations: Dick's, Dick's Sporting Goods, LSEG, . Steel, U.S, Steel, Nippon Steel Locations: Japanese

☆ Wall Street isn't pleased that Kevin Plank is returning as Under Armour's CEO, shares plunge 12%
▼ + stars: | 2024-03-14 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Wall Street is not pleased that Under Armour founder Kevin Plank is returning as its CEO. Following the announcement, both Williams Trading and Evercore ISI downgraded Under Armour and lowered their price targets. Linnartz, a former Marriott International executive who took the helm last February, is the second CEO the company has cycled through in less than two years. Since she started at Under Armour, Linnartz had been focused on rehauling the company's C-suite, building out its loyalty program, UA Rewards, and pivoting the brand's assortment to a more athleisure-focused offering that had more stylish options for women. "All of the twists and turns have created a brand that has become increasingly confusing to consumers and to wholesale partners," Saunders continued.

Persons: Kevin Plank, Stephanie Linnartz, Plank, Evercore, Patrik Frisk, Armour, Linnartz, Plank's, Michael Binetti, William Blair, Neil Saunders, Saunders Organizations: Wall, Williams, Armour, Marriott International, Aldo, UA Locations: Houston , Texas, Plank, America, North America

Kevin Plank, founder of Under Armour, during a CNBC interview on "Mad Money" on Feb. 28, 2018. Under Armour announced on Wednesday that CEO Stephanie Linnartz is stepping down from her role just over a year after she started, and founder Kevin Plank will return as the brand's chief executive. Linnartz took over as Under Armour's CEO in February 2023 after spending nearly 30 years at Marriott International, most recently as its president. Plank will remain a director on Under Armour's board but will hand over the chair position to Mohamed El-Erian, chief economic advisor at Allianz, Pimco's parent company. In a statement, Linnartz said she feels "honored" to have served as Under Armour's CEO.

Persons: Kevin Plank, Armour, Stephanie Linnartz, Linnartz, Plank, Mohamed El, Stephanie Organizations: CNBC, Marriott International, Allianz, Armour's

Fran Horowitz, Abercrombie & Fitch CEO: The future of retail is small, efficient, omni stores, and they're located where the customer tells us. I get really, really excited about what this means in the operations of the business, using predictive analytics to help us forecast demand. They're worldwide, a zillion stores, and their operations and execution, aside from their merchandising, I think they're always on top of the game. I think you're going to see an interaction with someone in a setting that doesn't look like retail, but looks like a fantastic experience. Nicholas of Sam's Club: Another retail standard that is really going to be important beyond the customer is energy.

Persons: Christina Locopo, Fran Horowitz, Abercrombie, Patrick MacLeod, WWD, Michelle Gass, Levi Strauss, they're, Jens Grede, Geoffroy van Raemdonck, Neiman Marcus, there'll, Trina, Patrick T, Fallon, Chris Nicholas, Kara Trent, Levi's Gass, Tom Ward, Erin Black, CNBC Abercrombie's Horowitz, Marc Lore, Mickey Drexler, TikTok, Adam Jeffery, Dave Kimbell, It's, Scott Mlyn, CNBC Neiman's van, you've, Yael Cosset, —, Ulta's, Arturo Holmes, Trent, That's, we've, Kroger's, Abercrombie's Horowitz, I've, Dia Dipasupil, Neiman's van, who's, Lulu, Drexler, Armour's, Dior, Louis Vuitton, Hermes, Armour Levi's Gass, Emma Grede, Kardashian, Kim, Geoffroy van Raemdonck Patrick Mckleod, Nicholas of Organizations: CNBC, Abercrombie, Fitch, Abercrombie & Fitch Co, Penske Media, Getty, Milken Institute Global Conference, AFP, Sam's, Technology, Walmart U.S, Walmart, New York Times, Navy, WWD, Young, Nike, TJX, Zara, Armour's Trent, Americas, Nicholas of Sam's, Sam's Club Locations: they're, Beverly Hills , California, New York City, America, New York, U.S, Skims, Inditex, Kara, Walmart's

☆ Under Armour shares jump after it raises profit expectations amid sliding sales
▼ + stars: | 2024-02-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Under Armour said Thursday that its holiday-quarter sales slowed, but its earnings beat estimates as the athletic apparel retailer worked to rein in costs. Under Armour now anticipates full-year sales will decline slightly more than it previously expected. During the quarter, Under Armour's wholesale revenue, which accounts for about 60% of sales, dropped 13% to $712 million. Like its peers, Under Armour has been working to expand its sales directly to consumers through its stores and website. During the quarter, Under Armour saw those direct sales rise 4% to $741 million, driven by a 5% uptick in store revenue and a 2% jump in digital sales.

Persons: Armour, Stephanie Linnartz Organizations: LSEG, Partners, Sporting Goods, Kohl's, JD Sports Locations: Houston , Texas, North America

☆ Cramer's Lightning Round: Vertex is 'excellent'
▼ + stars: | 2023-10-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Topgolf's year-to-date stock performance. Stock Chart Icon Stock chart icon Sabre's year-to-date stock performance. Stock Chart Icon Stock chart icon BlackBerry's year-to-date stock performance. Stock Chart Icon Stock chart icon Shopify's year-to-date stock performance. Stock Chart Icon Stock chart icon Kyndryl's year-to-date stock performance.

Persons: I'm, Stephanie Linnartz, you've, Martin Schroeter

Kevin Plank, now former CEO of Under Armour, during a CNBC interview on Mad Money on Feb. 28th, 2018. That afternoon, Ruhle questioned the Morgan Stanley report on Bloomberg's air and referenced data points that Plank had gathered. A couple of weeks later, when Under Armour reported positive quarterly results, Plank emailed Ruhle "look at that stock!!!" and then helped her arrange an interview with basketball player and Under Armour athlete Stephen Curry the following day, records show. Plank, the current executive chairman of Under Armour, asked Pelkey to help set up the interview with Curry.

Persons: Kevin Plank, Armour, Stephanie Ruhle, Plank, Morgan Stanley, Ruhle, Diane Pelkey, who's, Pelkey, Morgan, Stanley, Stephen Curry, Curry . Plank, Curry Organizations: CNBC, Bloomberg, MSNBC Locations: Maryland

☆ How to trade BYND, CHGG, and UAA ahead of earnings
▼ + stars: | 2023-08-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to trade BYND, CHGG, and UAA ahead of earningsDelano Saporu, Founder and CEO of New Street Advisors Group, joins 'The Exchange' to discuss how to trade Beyond Meat, ChatGPT's impact on Chegg, and Under Armour's competitive edge.

Persons: Delano Saporu Organizations: New Street Advisors Group

☆ Wells Fargo downgrades this athletic wear stock, cites 3 major headwinds
▼ + stars: | 2023-06-23 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Wells Fargo is taking a step back on Under Armour . The bank downgraded shares of the athletic clothing company to equal weight from overweight Friday. "We expect the NA wholesale channel to remain difficult at least through the end of '23, which will likely continue to be a drag on [revenue] growth," Gaetner said. "Retailers remain cautious with orders, as headwinds (inflationary pressures, lower gov't subsidies) continue to weigh on demand." Gaetner added that the North American wholesale market makes up more than half of Under Armour's revenue and expects a decline of 2.2% to revenue growth in 2024.

Persons: Wells, Will Gaetner, Gaetner, Stephanie Linnartz, Linnartz, Armour, — CNBC's Michael Bloom Organizations: UA, Armour, ahs Locations: American

☆ Here's why retailers are staying upbeat about the year despite cautious views on this quarter
▼ + stars: | 2023-05-18 | by ( Robert Hum | ) www.cnbc.com time to read: +3 min

Retailers continue to post better-than-expected earnings in the latest quarter – with Walmart , Bath & Body Works and Canada Goose topping estimates. Bath & Body Works' guidance is lacking , too, at 27 cents to 32 cents per share after adjustments versus the 32 cents estimate. Bath & Body Works also raised its earnings guidance and reaffirmed its full-year forecast. Bath & Body Works highlighted better merchandise margin and benefits from cost savings initiatives. BBWI YTD mountain Bath & Body Works shares soared more than 7% after its earnings report.

☆ Under Armour sends potential warning sign about retailers' profits
▼ + stars: | 2023-05-09 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

The company drove higher sales, in part, by offering lower prices. The company's Chief Financial Officer David Bergman chalked up the margin decline to higher promotions as Under Armour marked down merchandise from prior seasons and sold it through off-price retail. The company said it expects margins will still be under pressure as higher promotions outweigh lower freight costs. Simeon Siegel, a retail analyst for BMO Capital Markets, said the pandemic gave retailers a chance to press the reset button. As of the end of the quarter, Under Armour had nearly $1.2 billion in inventory, up 44% year over year.

☆ Stocks making the biggest moves premarket: Palantir, Skyworks, Under Armour & more
▼ + stars: | 2023-05-09 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

It also reaffirmed full-year revenue guidance, though it raised its full-year adjusted EBITDA forecast. Western Digital — The chip stock rose about 2% in premarket after the company reported a revenue beat in the latest quarter. Earnings guidance for the full year was more upbeat and the company posted better-than-expected earnings and revenue, according to Refinitiv. The company reported revenue of $149.4 million against Refinitiv analyst expectations of $209.9 million. The company reported adjusted earnings of $7.19 per share, just topping a StreetAccount forecast of $7.18 per share.

☆ Under Armour's new partnership with Steph Curry will last beyond the NBA star's retirement
▼ + stars: | 2023-03-30 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

NBA superstar Steph Curry and Under Armour are once again betting big on each other. The deal will ensure that Curry, 35, will remain with Under Armour long past his playing career. Curry will take on a new role as president of Under Armour's Curry Brand and will work across categories such as basketball, golf, women, youth and sports style to deliver new products. The nine-time NBA All-Star first signed with Under Armour in 2013 in a deal worth about $4 million per year. Over the course of their partnership, Curry and Under Armour have launched 10 signature shoes together.

☆ Under Armour is targeting Gen Z athletes with a shoe that's part training sneaker and part slip-on shoe
▼ + stars: | 2023-02-17 | by ( Danni Santana | ) www.businessinsider.com time to read: +2 min

UA Slipspeed sneaker features a collapsible heel that can be worn as a performance shoe or slide. Slipspeed is designed to adapt to athletes' busy schedules, Under Armour says. The shoe is also part of a new marketing strategy that zeroes in on 16 to 20-year old athletes. The new UA Slipspeed sneaker retails for $150 and features a collapsible heel that can be worn as a slide or performance shoe. The Slipspeed sneaker is key to Under Armour's new marketing strategy.

☆ Under Armour boosts profit forecast as discounts spur demand
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Feb 8 (Reuters) - Under Armour Inc (UAA.N) raised its annual profit forecast on Wednesday, sending shares up 8% premarket, after quarterly results got a boost from resilient consumer spending and deep discounts that reeled in holiday shoppers. It expects gross margin for the full year to decline at the higher end of its prior forecast of 375 to 425 basis points. A strong U.S. dollar and higher freight and manufacturing charges pushed down its third-quarter gross margins by 650 basis points to 44.2%. The Baltimore, Maryland-based apparel firm posted third-quarter adjusted profit of 16 cents, beating analysts' average estimate of 9 cents, according to Refinitiv IBES data. It expects adjusted profit of 52 cents to 56 cents per share for fiscal 2023, compared with its previous forecast of 44 cents to 48 cents.

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