Under Armour Exec Says Expect North America To Be Down At A High Single-Digit Rate Vs Previous Expectation Of A 5%-7% Decline
Portfolio Pulse from Benzinga Newsdesk
Under Armour's executive announced during a conference call that the company's North America revenue is expected to decline at a high single-digit rate, revising the previous forecast of a 5%-7% decline.
February 08, 2024 | 2:25 pm
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Under Armour's revised forecast indicates a larger than expected decline in North America revenue, suggesting potential challenges ahead.
The revision of the revenue forecast to a higher decline rate directly impacts investor sentiment and could lead to a decrease in stock price in the short term. The specificity of the forecast to North America, a key market for Under Armour, underscores the significance of this revision.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100