What I'm Watching When Under Armour Reports Earnings
Investors aren't expecting year-over-year revenue growth from athletic apparel company Under Armour (NYSE: UA) (NYSE: UAA) when it reports third-quarter earnings on Oct. 31, as the company has projected a flat figure. But perhaps more important will be what management has to say about the upcoming holiday season.
In last quarter's earnings call, the company backed off its full-year growth targets, from a range of 11% to 12% down to a range of 9% to 11%, leaving investors wondering about the future of this onetime Wall Street darling. When the company reports earnings this time, I'll be watching for what happens in the company's largest region, how its growth engines are doing, and for an update for the all-important holiday quarter.
The challenging North American region made up 76% of Under Armour's total revenue last quarter. This marketplace has been a difficult one for sports apparel retailers and manufacturers since Sports Authority went bankrupt in early 2016. To give you an idea, in Dick's Sporting Goods' most recent quarterly report, the company posted barely positive same-store sales, and is projecting full-year same-store sales to be flat to a decline in the low single digits. Dick's is Under Armour's largest wholesale partner. After posting 6% year-over-year North American revenue growth in Q4 2016, Under Armour lost 1% in Q1 2017 and only managed to break even in Q2.
Source: Fool.com
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