Under Armour’s stock "plunged on Friday’s news that the company posted a quarterly loss and missed revenue projections amid continuing supply chain and pandemic-related challenges." Despite the short-term difficulties, Under Armour President & CEO Patrik Frisk said that the company has "completed a multi-year turnaround plan designed to restore the brand’s luster." UA "missed analysts’ revenue expectations" of $1.33B, posting $1.3B in sales, a 3% gain, for the three months that ended March 31 compared with revenue of $1.25B during the same period in '21. The company also "posted a quarterly loss" of $60M, compared with a profit of $77.8M in last year's first three months (BALTIMORE SUN, 5/6).
Sponsored content
Additional Sections
Podcasts
