Kevin Plank, CEO of Below Armour.
Adam Jeffery | CNBC
Under Armour is ready to report third-quarter earnings earlier than the market open on Monday.
This is what analysts predict, based mostly on Refinitiv estimates:
- Earnings per share: 18 cents anticipated
- Income: $1.41 billion anticipated
Over the weekend, The Wall Street Journal reported that Below Armour was dealing with a federal prison investigation over accounting practices allegedly used to make its funds look more healthy.
A spokesperson for the corporate instructed CNBC in an electronic mail: “Below Armour is cooperating with the U.S. Securities and Change Fee and the U.S. Division of Justice investigations. The corporate started responding in July 2017 to requests for paperwork and knowledge relating primarily to its accounting practices and associated disclosures, and the corporate firmly believes that its accounting practices and disclosures had been acceptable.”
Phrase of the federal probe comes after CEO Kevin Plank, in a shock transfer, introduced he will step aside from the chief executive role on Jan. 1, to be succeeded by COO Patrik Frisk. Plank is anticipated to transition to government chairman and model chief.
The athletic attire and sneaker maker has been struggling to develop gross sales on its residence turf, in a crowded market with Nike, Adidas, Lululemon, and others. Forward of Monday’s earnings report, it was nonetheless calling…