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Under Amour recorded business from future quarters to boost sales growth numbers in 2016, according to The Wall Street Journal.
Under Armour short-sellers made $130 million in a single day on the company’s new accounting probe — and it erased their losses for the ye...
The sports apparel company said on its third-quarter earnings call that it began cooperating with an accounting probe in 2017.
Under Armour shares climbed on Tuesday after the company posted strong fourth-quarter earnings, showing its ambitious restructuring plan is working.
Under Armour's 2019 guidance is "conservative," but it needs to show investors next year numbers are achievable, said a Morgan Stanley analyst.
Shares of Under Armour dropped 10% Wednesday after the sporting-apparel maker posted a mediocre revenue guidance in the long term.
Shares of the athletic company fell about 1% after it announced an update to its $200 million restructuring program.
"We experienced continued significant declines in Under Armour sales as a result of their decision to expand distribution," Stack said. “We are very confident our sales trajectory will improve next year as these headwinds are expected to subside."
Under Armour has been cleaning up its inventory problem, according to Jefferies analyst Randal Konik.
Buy Under Armour and Foot Locker, one analyst suggested. Under Armour is set to catch Adidas in North America market share, and Foot Locker sells a lot of Under Armour sneakers. It also sells a lot of Nike sneakers, which the analyst also believes will catch Adidas.
The losses come just days after a security breach of Under Armour's MyFitnessPal app.