Why Under Armour Stock Was Down This Week
Week to date, shares of Under Armour (NYSE: UA) (NYSE: UAA) are down 8.6% as of 8:49 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence.
The culprit is bad news from Foot Locker. The athletic retailer called out softening demand trends that investors are concerned will lead to worse-than-expected earnings results through the holiday season.
Investors are concerned about what Foot Locker's news means further up the supply chain. Under Armour, , and Adidas are major suppliers to Foot Locker, so it's no surprise that all three stocks fell this week. Nike was down 4%, while Adidas slid 5.5%.
Source Fool.com
Nike Inc. B Stock
€66.84
1.340%
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