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. The company beat Wall Street’s expectations on the top and bottom lines. Its shares closed nearly 20% higher Thursday. Here’s how the athletic apparel company … Read more
Cameron Brink #22 of the Los Angeles Sparks plays defense against Bridget Carleton #6 of the Minnesota Lynx on June 5, 2024 at Crypto.com Arena in Los Angeles, California. Juan Ocampo | National Basketball Association | Getty Images New Balance on Tuesday announced a multiyear deal with the WNBA, joining a growing roster of backers … Read more
Shoppers at a shopping center in Birmingham, United Kingdom, on February 11, 2024. Nurphoto | Nurphoto | Getty Images Retail’s biggest winners during first-quarter earnings aren’t thriving because consumers are suddenly spending more on discretionary goods – it’s because they’re executing well and cash-strapped shoppers are choosing them over competitors. If there’s one takeaway from … Read more
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 sink by more than 96% during its fiscal fourth quarter, compared with the year-ago period. … Read more
The steel frame of the Francis Scott Key Bridge sits on top of a container ship after it struck the bridge in Baltimore, Maryland, on March 26, 2024. Roberto Schmidt | AFP | Getty Images The collapse of Baltimore’s Francis Scott Key Bridge was a maritime disaster but not an economic crisis, experts said Tuesday. … Read more
Canada Goose parkas hang on display at a store in Richmond Hill, Ontario. Chris So | Toronto Star | Getty Images Canada Goose said Tuesday it will cut about 17% of its corporate workforce, following a string of other retailers that have laid off employees this year as consumers continue to pull back on discretionary … Read more
Kevin Plank, founder of Under Armour, during a CNBC interview on “Mad Money” on Feb. 28, 2018. Scott Mlyn | CNBC 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 … Read more
The interior of an Under Armour store is seen on November 03, 2021 in Houston, Texas. Brandon Bell | Getty Images Wall Street is not pleased that Under Armour‘s founder Kevin Plank is returning as its CEO. Shares of the athletic apparel company plunged about 12% on Thursday after the retailer announced late Wednesday that … Read more
Employee Mo Soto arranges a shelf at a Birkenstock store on October 10, 2023 in Venice, California. Ethan Swope | Getty Images Birkenstock on Thursday beat holiday quarter revenue expectations, reporting a 26% year-on-year jump, as the German sandal company benefited from higher pricing and rising U.S. demand. Here’s how the shoemaker did in its … Read more
The interior of an Under Armour store is seen on November 03, 2021 in Houston, Texas. Brandon Bell | Getty Images 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. Soft demand in North America and a slowdown in wholesale … Read more