Ben Rains, Associate Stock Strategist Ben Rains releases Under Armour stocks reports of its first quarter fiscal 2019 earnings results. He also discusses another sports apparel giant Adidas which competes with Nike through growing their e-commerce business.
According to UAA’s report on Under Armour’s quarterly results, earnings adjustment is $ 0.05 per share, leading the Zacks Consensus Estimate for break-even earnings. It also topped Wall Street estimates and increases 2% approaching $1.2 billion. However, its quarterly revenue decreases by 3% in North America. Though this is an alarming trend, its international earnings soared 12% and 8% for foot ware sales. All in all, Under Armour stocks, grew by merely 1% and direct-to-consumer sales declined by 6%. This downward trend can be traced with Under Armour’s rival and retailers boom in Amazon.
Fortunately, Under Armour managed to strengthen their wholesale business and retail like Dick’s Sporting Goods. They also fixed their goals in performance categories while their competitors Adidas, Nike, Puma, and Lululemon focused on expanding their sportswear and athleisure enterprises.
Stock Market News – Adidas Stocks Earnings Soar
Another sports apparel company which increased quarterly earnings is Adidas. Its e-commerce business got an impressive 40% increase. Kasper Rorsted, Adidas stocks chief executive believes their earnings would continue to grow its digital strength for the next years. Focus on shoes and fashion help Adidas to expand, specifically in the U.S.
Rorsted also shares Adidas brand ambassador stars like Lionel Messi, Kanye West and Beyoncé are top of the industry. Its Yeezy brand offerings which top secondary shoe market sales. Yeezy also helped GOAT Group boosts its revenue.
Further, investors should also focus on how these shoe brands use social media platforms like Instagram, Facebook, and Tweeter to sell their products. There are about 2.7 billion users on Facebook alone. So it is no wonder the Deutsche Bank’s predicts Facebook’s feature “Checkout on Instagram” can increase business sales by $ 10 billion in 2021.
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