Under Armour warns of bigger Middle East hit, cuts annual gross margin growth target
In short
Under Armour reduced its annual gross margin growth target in light of worsening forecasts. The revision comes as the sportswear retailer anticipates a more severe operational impact stemming from the Middle East. Management adjusted its projections to directly incorporate these escalating headwinds into its full-year guidance.
Key points
- Regional instability in the Middle East is having a direct negative effect on corporate p…: Regional instability in the Middle East is having a direct negative effect on corporate profitability.
- Target revisions signal reduced financial expectations for the sportswear maker across th…: Target revisions signal reduced financial expectations for the sportswear maker across the fiscal year.
- Investors must account for lowered gross margin growth targets as international challenge…: Investors must account for lowered gross margin growth targets as international challenges escalate.