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Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Under Armour Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month price target by $1 to $6, based on 17.1x our FY 28 (Mar.) EPS estimate and well below the company's three-year average forward P/E multiple of 31.4x. We lower our FY 27 EPS estimate by $0.30 to $0.15 and initiate our FY 28 EPS estimate at $0.35. UAA's revenue declined 0.8% to $1.17B, in line with consensus estimates (down 4.2% in constant currency), as a 7% decline in North America was partially offset by 10% international growth. The company posted adjusted diluted loss per share of $0.03 compared to a loss per share of $0.08 in the year prior and in line with consensus estimates. Gross margin compression of 470 bps to 42.0% represented the most significant headwind, primarily attributable to elevated tariff costs, along with pricing pressures, higher product costs, and unfavorable regional mix. This more than offset benefits from disciplined expense management, as SG&A declined 15% to $518M, reflecting lower marketing spend due to timing shifts and reduced compensation.

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Wire

Under Armour Faces Uncertainty Around Sales Recovery, BofA Securities Says

Under Armour (UA, UAA) faces uncertain sales recovery, with limited near-term visibility on a meaningful turnaround in North America demand and continued pressure on revenue trends, BofA Securities said in a note Wednesday.Management's fiscal 2027 outlook assumes a stabilization year, with North America sales still declining in the low-single digits following a sharper drop in fiscal 2026, while overall guidance reflects a wide range of outcomes, according to the note.BofA said that while adjusted operating income is expected to rise about 40% year over year at the midpoint, most of the improvement is driven by one-off tariff refunds, with underlying margin expansion more limited once those effects are excluded.Analysts also highlighted ongoing SKU reductions, improved product focus, and lower discounting, but said there is still limited evidence these steps will drive a sustained demand recovery. The investment firm lowered its fiscal 2027 and 2028 earnings per share estimates by 58% and 46% to $0.10 and $0.17, respectively.BofA maintained its neutral rating on the stock and lowered its price target to $6.40 from $8.Price: $4.94, Change: $+0.04, Percent Change: +0.82%

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Research

Stifel Downgrades Under Armour to Hold From Buy, Adjusts Price Target to $6 From $9

Under Armour (UAA) has an average rating of hold and mean price target of $6.32, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$UAA
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Tuesday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.2%.In sector news, Redbook US same-store sales last week rose 9.6% from a year earlier after a 7.8% increase in the previous week. Redbook cited higher sales of seasonal products including clothing, footwear and outdoor goods due to warmer temperatures and graduation sales.In corporate news, Under Armour (UAA) issued weaker-than-expected full-year guidance after the sportswear maker's fiscal Q4 adjusted loss narrowed less than analysts anticipated. The shares fell 18%.EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. GameStop shares fell 3.2%, and eBay rose 2.3%.Wendy's (WEN) shares surged 17% after the Financial Times reported the company faces a potential take-private bid from Trian Fund Management.Sea (SE) reported Q1 revenue above market estimates as the Shopee parent saw growth across all core business segments. The shares climbed 13%.

$EBAY$GME$SE$UAA$WEN
Sectors

Sector Update: Consumer

Consumer stocks were mixed late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.9%.In corporate news, Under Armour (UAA) issued weaker-than-expected full-year guidance on Tuesday after the sportswear maker's fiscal Q4 adjusted loss narrowed less than analysts anticipated. Its shares fell more than 17%.

$UAA
Wire

Top Midday Stories: April CPI Rises 3.8% YoY, Highest Level Since May 2023; EBay Board Rejects GameStop's Acquisition Proposal

All three major US stock indexes were down in late-morning trading after April inflation data came in hotter than expected.The US seasonally adjusted consumer price index rose by 0.6% in April, as expected and following a 0.9% increase in March, the Bureau of Labor Statistics said Tuesday. Core CPI, which excludes food and energy prices, rose by 0.4%, higher than the consensus estimate of a 0.3% increase. Core CPI rose by 0.2% in March. Year over year rates for overall and core CPI rose to 3.8% and 2.8%, respectively from 3.3% and 2.6% in March. The overall year-over-year figure was the highest recorded since May 2023.In company news, eBay (EBAY) said Tuesday its board rejected GameStop's (GME) unsolicited, non-binding $55.5 billion buyout offer. The board concluded the company is better positioned to generate growth and shareholder value as a standalone business under its existing management, eBay said. Shares of eBay were up 0.2%, while GameStop shares were down 1.9% around midday.On Holding (ONON) reported Q1 adjusted earnings Tuesday of 0.37 Swiss francs ($0.47) per diluted share, up from 0.21 francs a year earlier and above the FactSet consensus analyst estimate of 0.27 francs. Net sales were 831.9 million francs, up from 726.6 million francs a year ago and above the FactSet consensus of 818.5 million francs. For full-year 2026, the company said it expects net sales to grow by at least 23% year over year on a constant-currency basis, implying reported sales of at least 3.51 billion francs at current spot rates, it said. On Holding shares were down 4.6%.Under Armour (UAA) reported a fiscal Q4 adjusted loss Tuesday of $0.03 per diluted share, narrowing from a loss of $0.08 a year earlier but below the FactSet consensus of a loss of $0.02. Fiscal Q4 net revenue was $1.17 billion, down from $1.18 billion a year ago but matching the FactSet consensus. For fiscal 2027, the company said it expects adjusted EPS of $0.08 to $0.12 on a slight decline in revenue. Analysts polled by FactSet expect adjusted EPS of $0.23 on revenue of $5.05 billion. Under Armour shares were down 17%.Wendy's (WEN) faces a potential take-private bid from Trian Fund Management, which is seeking investor backing for a takeover, the Financial Times reported Tuesday, citing people familiar with the matter. Wendy's shares were up 15%.Alphabet's (GOOG, GOOGL) Waymo is recalling 3,791 robotaxis in the US due to a software issue that could likely cause the vehicles to drive onto flooded roads, Reuters reported Tuesday, citing the National Highway Traffic Safety Administration. The recall pertains to certain fifth- and sixth-generation automated driving systems in the robotaxis, the report said. Alphabet's Class C and Class A shares were down 0.5% and 0.4%, respectively.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Tuesday on Bloomberg TV that financial markets may be showing "a little bit too much exuberance" given current inflation risks and geopolitical tensions. JPMorgan shares were up 0.5%.Price: $108.27, Change: $+0.14, Percent Change: +0.13%

$EBAY$GME$GOOG$GOOGL$JPM$ONON$UAA$WEN
Under Armour Guides Below Expectations After Q4 Miss; Shares Tumble
US Markets

Under Armour Guides Below Expectations After Q4 Miss; Shares Tumble

Under Armour (UAA) issued weaker-than-expected full-year guidance on Tuesday after the sportswear maker's fiscal fourth-quarter adjusted loss narrowed less than analysts anticipated.The company expects adjusted earnings of $0.08 to $0.12 per share in fiscal 2027, below the $0.23 consensus on FactSet. The outlook reflects continued investment and external cost pressures, partially offset by tariff-related refunds, the company said.Revenue is projected to decline "slightly" this year, compared with Wall Street's expectation for $5.05 billion. Under Armour anticipates a low-single-digit sales decline in North America, while EMEA and Asia Pacific are expected to grow at a similar rate."That outlook reflects both continued consumer uncertainty and the deliberate choices we're making to reshape the business," CEO Kevin Plank said on an earnings call, according to a FactSet transcript. "We are prioritizing revenue quality over volume, strengthening the foundation and positioning the company to return to growth with stronger profitability and a more consistent brand expression."Under Armour's shares slumped 19% in Tuesday trading.The company expanded its restructuring program launched in 2024, bringing total expected costs to about $305 million. It has incurred $261 million to date and aims to substantially complete the plan by December.In the three months ended March 31, the adjusted loss narrowed to $0.03 per share from $0.08 a year earlier, missing the $0.02 loss analysts expected. Revenue slipped 1% to $1.17 billion, roughly in line with estimates. North America sales fell 7%, while EMEA rose 7%, Asia Pacific gained 13%, and Latin America jumped 22%.Wholesale revenue declined 2.6% to $747.7 million, while direct-to-consumer sales rose 5.1% to $405.7 million. Apparel revenue eased 0.3% to $778 million, footwear was little changed at $281.8 million, and accessories increased 2.3% to $93.7 million.In the current quarter, the company expects adjusted EPS of breakeven to $0.02 and revenue to decline 2% to 3%, compared with Wall Street forecasts for $0.01 per share and $1.14 billion in sales."Overall, we expect the first quarter to represent the weakest revenue performance of the year, with growth rates improving progressively through the balance of fiscal 2027," Chief Financial Officer Reza Taleghani said on the call.Price: $4.92, Change: $-1.15, Percent Change: -18.89%

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Stocks Down Pre-Bell as Trump Warns US-Iran Ceasefire Fragile; Inflation Data on Deck
US Markets

Stocks Down Pre-Bell as Trump Warns US-Iran Ceasefire Fragile; Inflation Data on Deck

US equity futures were pointing lower on Tuesday as investors assess President Donald Trump's latest comments on the US-Iran ceasefire and await a key inflation report.The S&P 500 declined 0.3%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was off 0.7% in premarket activity. The indexes finished the previous trading session up, with the S&P 500 and the Nasdaq logging new closing highs.The ceasefire agreement between the US and Iran is on "massive life support," Trump told reporters on Monday, according to several media outlets. "I would call it the weakest, right now, after reading that piece of garbage they sent us - I didn't even finish reading it," Trump reportedly said.Trump on Sunday rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the Strait of Hormuz. Tehran's proposal, delivered via mediator Pakistan, reportedly sought an immediate end to hostilities, the lifting of the US naval blockade of its ports and assurances against further aggression.West Texas Intermediate crude oil increased 3.2% to $101.16 a barrel before the opening bell, while Brent advanced 2.9% to $107.27.Trump is scheduled to arrive in China Wednesday for a high-stakes state visit, with talks set to take place Thursday and Friday."The US will want China to use its influence with Tehran, especially because China is a major buyer of Iranian oil," Saxo Bank Chief Investment Strategist Charu Chanana said in a report Monday. "China, meanwhile, wants energy security and stable shipping lanes, but it is unlikely to appear as if it is acting under US instruction."The consumer price index report for April is scheduled for an 8:30 am ET release. Official data are expected to show that consumer inflation rose 0.6% and 3.7% on sequential and annual bases last month, according to a Bloomberg-compiled consensus.Treasury yields were trending higher in premarket action, with the two-year rate rising 2.4 basis points to 3.97% and the 10-year rate adding 1.9 basis points to 4.43%.The National Federation of Independent Business small business optimism index posted a 0.1-point increase for April to 95.9.Sea (SE), JD.com (JD), On Holding (ONON), Tencent Music Entertainment (TME), Aramark (ARMK) and Under Armour (UA, UAA) are scheduled to report their latest financial results before the bell, among others.Gold declined 0.6% to $4,701 per troy ounce, while bitcoin fell 1.5% to $80,679.

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