Under Armour, Inc. (UAA) jumped 17% on 02/13/18: This is why
Under Armour, Inc. (UAA) jumped based on the bullish news related to total revenue in the fourth quarter climbed 5 percent to $1.37 billion. Analysts were expecting $1.31 billion, according to a Thomson Reuters survey. Sales in international markets climbed 47 percent, representing 23 percent of total sales.
The company reported a net loss of $88 million, or 20 cents a share, compared with net income of $103 million, or 23 cents per share, a year ago. The company had incurred a one-time charge of $39 million in the quarter due to new U.S. tax legislation.
“After years of rapid growth and building a globally recognized brand, the dynamic landscape of 2017 was a catalyst for us to begin strategically transforming Under Armour into an operationally excellent company,” said Under Armour Chairman and CEO Kevin Plank. “A year into this journey, our fourth quarter and full year results demonstrate that the tough decisions we’re making are generating the stability necessary to create a more consistent and predictable path to deliver long-term value to our shareholders.”
For 2018 the company expects net revenue to be up at a low single-digit percentage rate reflecting a mid-single-digit decline in North America and international growth of greater than 25 percent. The gross margin is expected to increase approximately 50 basis points to 45.5 percent due to benefits from lower planned promotional activity, product costs, channel mix and changes in foreign currency.
Why are we Bullish on the new: Sales in international markets climbed 47 percent, representing 23 percent of total sales. The stock has been impacted by the bullish news and jumped by 17%. We provide a Bullish short-term news
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