Notable News to Focus: Under Armour (NYSE:UA)

Under Armour (NYSE:UA) stock observed trading -38.41% off 52-week high price. On the other end, the stock has been noted 0.43% away from low price over the last 52-weeks. The stock disclosed a move of -17.49% away from 50 day moving average and -21.34% away from 200 day moving average.

On Feb.11, 2020, Under Armour (NYSE:UA) disclosed unaudited financial results for the fourth quarter and fiscal year ended December 31, 2019.

Under Armour is an operationally better company following our transformation over the past few years, with a clearly defined and focused strategy, enhanced go-to-market process, cleaner inventories and a stronger balance sheet, said Under Armour President and CEO Patrik Frisk. However, ongoing demand challenges and the need to drive greater efficiencies in our business requires us to further prioritize our investments to put our company in the best position possible to achieve sustainable, profitable growth over the long-term.

Fourth Quarter 2019 Review

  • Revenue was up 4 percent to $1.4 billion (up 4 percent currency neutral).
  • Gross margin increased 230 basis points to 47.3 percent compared to the prior year driven primarily by pricing including lower discounts to our wholesale partners, channel mix and supply chain initiatives.
  • Selling, general & administrative expenses increased 3 percent to $607 million, or 42.1 percent of revenue.
  • Operating income was $74 million.
  • Net loss was $15 million or $0.03 diluted loss per share, inclusive of:

o          A $23 million tax expense, which had a $0.05 negative earnings per share impact related to the recording of valuation allowances against certain of the company’s U.S. state deferred tax assets.

o          A $39 million impairment charge, which had an $0.08 negative earnings per share impact related to the company’s equity interest investment in its Japan licensee.

 The USA based company Under Armour moved with change of -16.69% to $15.12 with the total traded volume of 16093505 shares in recent session versus to an average volume of 2.16M. The stock was observed in the 5 days activity at -17.92%. The one month performance of stock was -14.91%. UA’s shares are at -4.79% for the quarter and driving a -21.04% return over the course of the past year and is now at -21.17% since this point in 2018. The average volatility for the week and month was at 3.20% and 3.06% respectively. 355.68M shares are floated in market.

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