2 Reasons Under Armour's Warning Shouldn't Worry Nike -- and 1 Reason It Should
Under Armour (NYSE: UA) (NYSE: UAA) shares were pummeled last week after the company lowered its 2017 sales and profit forecasts for the second time this year. The sports apparel specialist booked a rare quarterly net loss while warning that weak demand in the industry is forcing more retailer price cuts heading into the critical holiday shopping season.
That pessimistic market reading isn't good news for rival Nike (NYSE: NKE). But the industry leader is better positioned to keep profits rising through the downturn.
Image source: Nike.
Source: Fool.com
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