Under Armour Poised for Up-and-Down 2017, but Merchandising/Technology/Licensing Efforts Promising
With the market bracing for the worst heading into Under Armour's first quarter, the company delivered results that were slightly ahead of expectations, including revenue growth of 7% to $1.1 billion (versus guidance calling for mid-single-digit growth), 70 basis points of gross margin contraction to 45%, and a net loss of $2.2 million. While we view shares as undervalued from a long-term perspective, we believe the stage is set for what will likely be an up-and-down year.For starters, we conti...
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