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.
Under Armour Inc forecast on Monday a 50% to 60% drop in second-quarter revenue as most of its stores remained closed because of the COVID-19 pandemic, sending the athletic apparel maker’s shares down about 11%.
A group of employers' organisations, unions and major brands in the garment industry are working with the International Labour Organisation (ILO) to support manufacturers affected by the coronavirus outbreak.
Nike Inc's revenue could fall by a third in the fourth quarter, Cowen estimated, as the sportswear giant reels from store closures, supply disruptions and the suspension of the NBA season due to the coronavirus.
As its turnaround efforts continue, the athleticwear brand has announced a Q4 loss of $15.3 million and revealed disappointing prospects for 2020, sending the company’s shares plummeting 18% in Tuesday trading.
Realty business DLF has invested Rs 100 crore ($15 million) in revamping its 'DLF Avenue' mall in Saket, Delhi, and will officially re-open the mall in March with 95 new brands following a soft opening on Monday.