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Under Armour’s inventories surge as COVID-19 hits both demand and supply

Cons. Discr. - Apparel 449 Cons. Discr. - Retailing 414 Coronavirus 507 Earnings 667 U.S. 5201

Under Armour has reported a 23% year over year drop in revenues in Q1, with the apparel retailer’s CEO, Patrik Fisk stating “not only are there meaningful shifts in demand, but we’re also seeing significant swings in supply due to factory closures” due to COVID-19. The firm expects Q2 revenues to fall by 50-60%. Panjiva’s data shows U.S. seaborne imports linked to the firm surged 25.9% higher in Q1 compared to a year earlier, partly explaining the 7.4% rise in inventories despite the drop in sales. Under Armour has cut back its imports in April with shipments down by 6.5%. That’s slower ...

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