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The Plank-Ruhle relationship included private jet rides and access to confidential company information, according to court filings.
Under Armour executive Kevin Plank gave Stephanie Ruhle a private phone through which they communicated at all hours, according to court documents.
Foot Locker's earnings report flashed warning signs for leading athletic wear brands. Nike and Adidas were also trading lower this week.
Under Armour shares got a slight bump Tuesday after the athletic apparel retailer posted quarterly results roughly in line with expectations and reiterated its guidance. The company reported revenue of $1.31 billion, down 3% year-over-year and just above Street expectations of $1.3 billion, and earnings of $0.02 per share, flat year-over-year and in-line with expectations.
Under Armour Inc. blew past earnings estimates for its fiscal first quarter on Tuesday, posting a small profit instead of an expected loss, and said it was making no changes to the guidance provided in May. The Baltimore-based sporting goods retailer said it had net income of $8.549 million, or 2 cents a share, for the quarter to June 30, up from $7.682 million, or 2 cents a share, in the year-earlier period.
Under Armour is scheduled to report its fiscal first-quarter results Tuesday morning, when investors will be watching for whether the company top earnings expectations like it has each of the last four periods. The athletic apparel company is expected to report revenue of $1.3 billion and a loss of $0.02 per share, compared to $1.35 billion and a gain of $0.02 in the year-ago period.
The estimate reflects a challenging economic environment for apparel companies. Cooling but still elevated inflation and higher interest rates have weighed on recent performances.
As the U.S. women's national soccer team prepares to defend its trophy in Australia and New Zealand starting Saturday, Under Armour is making a play in the market.
BALTIMORE , July 12, 2023 /PRNewswire/ -- Under Armour, Inc. (NYSE: UA, UAA) plans to release its first quarter fiscal 2024 (ended June 30, 2023) results on August 8, 2023, at 6:55 a.m. Eastern Time (ET).
Yahoo Finance Live anchors Seana Smith and Diane King Hall the latest on Under Armour as the stock drops following analyst downgrade.