Under Armour (UAA) (UA) has just reported its third quarter earnings and shares are getting absolutely decimated on the news. In this column, we will offer our thoughts on the trends we are seeing and offer projections looking forward. We also discuss our hold rating and why despite the selloff, the stock should not be sold now.
Revenue pain
The revenue numbers missed our expectations badly. We were more bullish than the Street, and anticipated revenues of $1.55 billion. However, earnings came in well short of expectations, and actually dropped versus last year, sending panic throughout sports retail:
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