Under Armour shares drop after surprise profit decline warning for 2020
) on Tuesday forecast a surprise drop in 2020 revenue, saying the recent coronavirus outbreak in China would hurt sales in one of its fast-growing markets, sending its shares down 15%.
The company said the health epidemic would have a $50 million to $60 million impact on first-quarter sales.Analysts on average were expecting a growth of 4.2% in 2020, according to IBES data from Refinitiv.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Under Armour shares tank on sales miss, sees $50 million to $60 million hit from coronavirusCNBC's 'Power Lunch' team is joined by Lauren Thomas, CNBC.com retail reporter, to discuss her reporting on Nike's decision to stop selling products on Amazon as part of its push to sell more directly to consumers.
Les mer »
Under Armour expects shipping delays and is taking a sales hit because of deadly coronavirus'We think it's reasonable to expect industry-wide delays in terms of delivery around the world — including potentially missed shipment[s] and service windows,' CEO Patrik Frisk says.
Les mer »
Under Armour struggling from investigations, coronavirus, weak demand - Business InsiderUnder Armour is facing several challenges that have had a negative impact on its sales. It reported earnings Tuesday that fell short of expectations.
Les mer »
Under Armour stock plummets 14% after earnings miss and weak guidanceUnder Armour Inc. stock plummeted 14.8% in Tuesday premarket trading after the athletic apparel company reported fourth-quarter earnings and revenue that...
Les mer »
Under Armour Stock Falls 16% Amid News That Coronavirus Will Lower Sales By Up To $60 MillionUnder Armour's stock fell 16% this morning amid the news that coronavirus will lower sales by up to $60 million by skleb1234
Les mer »
Under Armour Stock Falls 16% Amid News That Coronavirus Will Lower Sales By Up To $60 MillionMore bad news for the struggling athletic gear maker.
Les mer »