Why Under Armour Slumped Today
Shares of Under Armour (NYSE: UA) slumped 9.6% on Tuesday as of 12:17 p.m. ET.
The athletic apparel and shoe company has had a tough few years, as growth stalled out and profits have taken a hit, with operating profits swinging to losses in 2024 for the first time since the pandemic.
But Under Armour would have actually been profitable this past quarter if not for large transformation and restructuring expenses taken, as CEO Kevin Plank attempts to reposition the business as a lower-volume but full-priced premium brand.
Source Fool.com
