When your quarter sucks, how do you come back?
Under Armour, Inc. (UA) is counting on fresh products, new markets, the pixie dust of its celebrity athletes and a major restructuring for a rebound into growth after a weak second quarter revealed on Tuesday. The one-time high growth retailer saw revenue up a mere 9% to $1.1 billion and a net loss of $12 million.
The company's outlook also stunk. Net revenues are expected to grow 9% to 11% versus the previous expectation of 11% to 12%. Operating profits are seen in a range of $280 million to $300 million, excluding one-time items. Under Armour previously expected $320 million.
Among the bright spots for the company are in Asia, including China and Korea.
Spieth is a man on the move. On July 23, the American won the British Open in a nail-biting ending.
This line has been issued in both men's and women's sizes. One way the company plans to transform its company is to push more strongly into the women's market.
The latest iteration of a sneaker honoring Golden State Warriors basketball player Stephen Curry.
The 6' 5" Dwayne Johnson, also a producer and former professional wrestler, is the public face of UA's Project Rock, which includes shirts, tights, hats and backpacks. New products are expected.
Come 2019, Under Armour uniforms will be worn by all players of the 30 Major League Baseball teams, and that's a 10-year contract for the athletic-wear company.
The company will be the exclusive provider of all on-field uniform components, including jerseys featuring Under Armour branding, and provide exclusive connected fitness offerings. It marks the first time Under Armour landed a uniform deal with an entire pro sports league.
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