Company Also Announced a New $500 Million Share Repurchase Program BALTIMORE, May 16, 2024 /PRNewswire/ -- Under Armour, Inc. (NYSE: UA, UAA) announced unaudited financial results for its fourth quarter and full-year fiscal 2024, which ended March 31, 2024. The company reports its financial performance following accounting principles generally accepted in the United States of America ("GAAP"). This press release refers to "currency neutral" and "adjusted" amounts, which are non-GAAP financial measures descr ...

Core Viewpoint - Under Armour is expected to report better-than-consensus fiscal Q4 2024 results, despite facing challenges in the North American retail market, with a projected revenue decline for the full year 2024 [2][4]. Group 1: Financial Performance - Under Armour's fiscal Q4 2024 revenues are estimated to be around $1.4 billion, exceeding consensus estimates, while Q3 revenues fell 6% year-over-year to $1.5 billion [4]. - The company anticipates a revenue decline of 3-4% year-over-year for the full year 2024, with diluted earnings per share expected to be between $0.57 to $0.59 [2][6]. - Gross margins are projected to improve by 120 to 130 basis points from 44.9% in FY'23, but will remain below the 50% level seen in FY'21 [2]. Group 2: Stock Performance - Under Armour's stock has declined 55% from approximately $15 in early January 2021 to around $7 currently, underperforming the S&P 500 over the past three years [3]. - The current valuation of Under Armour is estimated at $8 per share, which is about 20% higher than the current market price [3][6]. Group 3: Market Dynamics - The company is experiencing strong sales growth in regions outside North America, with high single-digit growth rates in Europe, the Middle East, Africa, and Asia Pacific [2]. - Inventory levels decreased by 9% year-over-year to $1.1 billion, while cash and cash equivalents stood at $1 billion at the end of Q3 [4].

Group 1 - Under Armour, Inc. plans to release its fourth quarter and full-year fiscal 2024 results on May 16, 2024 [1] - The results will be followed by a conference call hosted by Under Armour management at approximately 8:30 a.m. ET [1] - The conference call will be webcast live and archived for future access [1] Group 2 - Under Armour, Inc. is headquartered in Baltimore, Maryland, and is a leading inventor, marketer, and distributor of branded athletic performance apparel, footwear, and accessories [2] - The company's products are designed to empower human performance and are engineered to enhance athletes' capabilities [2]

Key TakeawaysSo-called "boomerang CEOs" are executives who return to lead a company for a second time after previously stepping down (or being fired) from the role.Companies may choose to bring back prior CEOs during times of crisis or when they want to eliminate onboarding time with a leader well aware of the firm.Some examples of successful boomerang CEOs have included Steve Jobs of Apple and Howard Schultz of Starbucks, both of whom helped to rescue their companies from poor performance.A 2020 study by M ...

Curry Brand Signs University of South Carolina Guard as its First Collegiate Athlete BALTIMORE, March 15, 2024 /PRNewswire/ -- Under Armour, Inc. (NYSE: UA, UAA) announced today that it has signed University of South Carolina guard MiLaysia Fulwiley to a multi-year NIL (name, image, and likeness) partnership with Curry Brand. As the first collegiate athlete to sign with Curry Brand at an Under Armour school, Fulwiley will wear Curry Brand footwear on the court throughout the remainder of her college career ...

The interior of an Under Armour store is seen on November 03, 2021 in Houston, Texas.Wall Street is not pleased that Under Armour's founder Kevin Plank is returning as its CEO. Shares of the athletic apparel company plunged about 12% on Thursday after the retailer announced late Wednesday that CEO Stephanie Linnartz would be stepping down after barely a year on the job and Plank would replace her on April 1. Following the announcement, both Williams Trading and Evercore ISI downgraded Under Armour and lower ...

Founder Kevin Plank is back at the helm at Under Armour (UA -11.38%) (UAA -12.98%), and investors aren't quite sure what to make of the development. Shares of the athletic apparel brand are down 11% as of 10:45 a.m. ET following news of the surprise CEO change.A quick hook for the company's current CEOPlank founded Under Armour in 1996 and led the company through most of its growth before stepping down four years ago. He will replace Stephanie Linnartz, who joined about a year ago after spending 30 years at ...

Kevin Plank will return as Under Armour's CEO on April 1, but UAA is lower in responseUnder Armour Inc (NYSE: UAA) stock was last seen down 12% to trade at $7.12, following news that founder Kevin Plank will return as CEO on April 1 to replace Stephanie Linnartz. Plank has been serving as the apparel retailer's executive chair and brand chief since 2020.Today's bear gap is pacing to be the stock's worst single-session drawdown since a May 2022 post-earnings selloff of 23.8%. The shares are trading at their ...

Under Armour Inc (NYSE:UA) has announced founder Kevin Plank will return to the helm of the sportswear company next month. Having set up Under Armour in 1996 and served as chief executive until 2019, Plank will replace Stephanie Linnartz, who is set to step down after little over a year. “I feel honoured to have served as Under Armour's President and chief executive,” Linnartz said.  “I am proud of our progress against our strategic plan, including strengthening our team, evolving our products and marketing ...

Apparel maker Under Armour said Wednesday that founder Kevin Plank will return to the company as CEO, effective April 1.The company’s shares rose 6% to $8.26 after the bell.Kevin Plank is returning as CEO of Under Armour. AFP/Getty ImagesUnder Armour shares rose 6% after hours. REUTERS Plank founded Under Armour in 1996 and served as the company’s top boss till 2019. In January 2020, Plank was appointed as the company’s executive chair and brand chief.Under Armour said Plank would succeed Stephanie Linnartz ...