24/7 Market News Snapshot 07 November, 2024 – Under Armour, Inc. Class C Common Stock, $0.0003 1/3 par value (NYSE:UA)

November 7, 2024

DENVER, Colo., 07 November, 2024 (247marketnews.com) – (NYSE:UA) are discussed in this article.
Under Armour, Inc. has witnessed a significant uptick in its Class C Common Stock, which surged to $9.97, marking a remarkable increase of 23.66% from the previous day’s close of $8.06. This surge, alongside a trading volume of 1.78 million shares, indicates robust investor interest and bullish sentiment surrounding the brand, known for its cutting-edge athletic apparel.

Concurrently, the company reported its unaudited financial results for the second quarter of fiscal 2025, which ended on September 30, 2024. Despite experiencing an 11% year-over-year decline in revenue, totaling $1.4 billion, the results aligned with the company’s expectations as it implements strategic initiatives to adapt to shifting market conditions. Under Armour’s President and CEO, Kevin Plank, highlighted the effectiveness of the brand’s repositioning efforts, stating that the second-quarter performance reflects their strategy to reclaim a premium market position and enhance full-year profitability.

Notably, the company’s gross margin improved by 200 basis points to 49.8%, attributed to reductions in product and freight expenses. Moreover, there was a noteworthy 15% decrease in selling, general, and administrative expenses, amounting to $520 million. This reduction has enabled Under Armour to invest further in marketing strategies aimed at strengthening consumer connections and brand loyalty.

As it moves forward, Under Armour anticipates a modest revenue decline for fiscal 2025 but remains steadfast in its long-term vision that focuses on quality and brand integrity. Forecasts for adjusted operating income range from $165 million to $185 million, reflecting the company’s commitment to operational efficiency amidst ongoing restructuring efforts. Under Armour is dedicated to evolving within the athletic performance sector and empowering athletes globally while enhancing shareholder value. Updates will continue as the company navigates its strategic path in the dynamic market landscape.

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