An Below Armour retailer entrance is seen on November 04, 2019 in Dawn, Florida.Joe Raedle | Getty PhotographsUnder Armour shares plummeted Monday
An Below Armour retailer entrance is seen on November 04, 2019 in Dawn, Florida.
Joe Raedle | Getty Photographs
Under Armour shares plummeted Monday morning after the corporate reported gross sales that missed analysts’ estimates through the vacation quarter.
Offering its 2020 outlook, Below Armour additionally stated it expects the coronavirus outbreak in China to decrease gross sales by roughly $50 million to $60 million through the fiscal first quarter.
The corporate can also be embarking on a restructuring plan, which amongst different issues may entail not opening its New York Metropolis flagship location, Below Armour stated. It stated it’s contemplating $325 million to $425 million in estimated pre-tax prices for 2020, together with about $225 million to $250 million associated to not opening the shop.
It shares sank as a lot as 17% in premarket buying and selling on the information.
Here is how Below Armour did for the quarter ended Dec. 31, in contrast with what analysts had been anticipating, based mostly on a ballot by Refinitiv:
- Earnings per share: 10 cents, adjusted, vs. 10 cents anticipated
- Income: $1.44 billion vs. $1.47 billion anticipated
Below Armour reported a internet lack of $15.three million, or three cents per share, in contrast with internet earnings of $4.2 million, or a penny a share, a yr in the past. Excluding one-time gadgets, Below Armour earned 10 cents a share through the fourth quarter, according to analysts estimates, based mostly on Refinitiv knowledge.
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