Here's How Under Armour Inc. Plans to Reignite Profitable Growth
Under Armour Inc. (NYSE: UA)(NYSE: UAA) reported second-quarter earnings on Aug. 1, surprising investors -- and not in a good way -- with a $12 million loss on sales of $1.09 billion, a 9% increase year over year. After years of steadily delivering big double-digit revenue growth and solid operating and net income increases, a hypercompetitive North American apparel and footwear market, along with huge disruption in traditional bricks-and-mortar retail that has put multiple former Under Armour retailers out of business, the company has run into what has proved to be its most difficult period since the Great Recession.
And while this is certainly causing pain for the company and investors -- shares have fallen 65% since peaking in late 2015 -- the company announced a restructuring plan to "more closely align its financial resources to support the company's efforts to better serve the evolving needs of the changing consumer and customer landscape."
Image source: Getty Images.
Source: Fool.com
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