Under Armour UA reported second-quarter losses of 4 cents per share. This is a 80.95% increase over losses of 21 cents per share from the same period last year.
The company reported quarterly sales of $1.19 billion, which missed the analyst consensus estimate of $1.21 billion. This is a 1.28% increase over sales of $1.175 billion the same period last year.
"Our second quarter results give us increasing conviction that our transformation continues to make solid progress across our business, unlocking efficiencies that are driving greater precision, consistency and repeatability," said Under Armour CEO Kevin Plank. "By staying sharply focused on our long-term strategies – driving our premium athletic brand positioning through industry leading innovation, geographic expansion and creating deep connections with our consumers – we are on track to deliver against our expectations in 2019."
Under Armour shares were trading down 12% at $24.10 in Tuesday’s pre-market session. The stock has a 52-week high of $27.72 and a 52-week low of $16.52.
Related Links:
Analysts: Athletic Brands Aren't Making Enough Products For Women
Under Armour CEO: 'We're Doing The Right Things In The Right Markets'
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