Under Armour Gets Stomped, Says Unexpected Supply Chain, COVID and Asian Headwinds Are Temporary

Source: pymnts.com pymnts.com

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Under Armour said Friday (May 6) that investors need to be patient while the company works through a mix of headwinds it said were surprising but temporary. “The price of freight, supply chain challenges and COVID-19 are not as powerful as the global passion for sport,” Under Armour CEO Patrik Frisk told analysts on the company’s earnings call for the three months ending March 31, before expressing his confidence that the embattled brand that is now worth just $6 billion would still deliver on its promise of growth. “It’s essential to look past near-term pressures and focus on the long-standing...