×
103
Fashion Jobs
REQUITY APPLIED SCIENCES PRIVATE LIMITED
Production Manager
Permanent · National Capital Region
PANTALOONS HO
Assistant Brand Manager - Mumbai
Permanent · MUMBAI
EJAAZ COUTURE
Production Manager
Permanent · NEW DELHI
ENAARAH INDIA
Ecommerce Manager
Permanent · NEW DELHI
NIKE
Manager Operations - Enterprise Mac And Mobility, India – Tech Ops Icc
Permanent · Bengaluru
LIFESTYLE BRANDS
Group Manager - E-Commerce Product (B2B)
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Product, Louis Philippe
Permanent · BENGALURU
PANTALOONS HO
Senior Executive - Marketing
Permanent · MUMBAI
LIFESTYLE BRANDS
Executive -Key Accounts (Mis),lp
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Trade Channel, Finance
Permanent · BENGALURU
LIFESTYLE BRANDS
Sales Executive - Kannur &Amp; Kasargod
Permanent · BENGALURU
LIFESTYLE BRANDS
Senior Executive - Garment Technician (ww &Amp; Kids), Pdqa
Permanent · BENGALURU
OUTHOUSE JEWELLERY
e- Commerce Manager
Permanent · MUMBAI
NETE.IN
Order Fulfilment & CRM
Permanent · MUMBAI
LIFESTYLE BRANDS
Manager - Marketing, Peter England - Bangalore
Permanent · BENGALURU
NIKE
Product Manager, ed&a Icc
Permanent · Bengaluru
NIKE
Grc Compliance Analyst, India – Cis Icc
Permanent · Bengaluru
NIKE
Senior Data & Analytics Business Systems Analyst (Consumer Data Engineering), ed&a - Icc, India Capability Center (Contract)
Permanent · Bengaluru
AASHUMI MAHAJAN BRAND CONSULTANCY
Graphic Designer
Internship · MUMBAI
TARGET RECRUITMENT AGENCY
Senior Merchandiser-Kids Wear-Liason Office-Garments-Delhi-75k
Permanent · National Capital Region
JOKER & WITCH
Merchandiser & Category Manager - Ethnicwear
Internship · BENGALURU
JOKER & WITCH
Jewellery Designer & Merchandiser
Internship · BENGALURU

Under Armour gets online boost but expects more discounts

By
Reuters
Published
Aug 3, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Under Armour said Friday it expects margins to be pressured for the rest of the year on the back of increased promotions, even as online demand helped the sportswear maker post a smaller-than-expected loss.


Twitter @UnderArmour



Shares of the Baltimore-based company, which surged during before the opening bell, were down about 8% by the end of the day.

Chief Financial Officer David Bergman also warned on a call with analysts the company might not have adequate supply to meet higher demand, if the second half of the year recovers at a faster-than-expected rate.

“Given the dramatic impacts across the retail landscape due to store closures, and inability to reduce supply as fast as demand, we’re anticipating that a highly promotional environment will materialize in the second half.”

A major portion of sales to off-price channels being planned in the third and fourth quarters could result in “meaningful” gross margin pressures for the rest of the year, Bergman added.

Under Armour has been trying to reduce its dependence on the low-margin wholesale business, through which it sells to department and off-price stores.

However, with increased promotional activity expected in the second half of the year, the company is anticipating more sales to off-price stores.

Under Armour beat analysts’ estimates for second-quarter revenue, as consumers shopped more online with several stores being shut due to the virus lockdowns.

During the quarter, its wholesales business revenue dropped 58%, while that of direct-to-consumer sales fell only 13%, helping gross margins rise 280 basis points.

Net revenue fell about 41% to $707.6 million in the quarter ended June 30, but beat estimates of $558.5 million, according to IBES data from Refinitiv.

On an adjusted basis, the company lost 31 cents per share, compared to analysts’ estimates of 41 cents.

© Thomson Reuters 2020 All rights reserved.