We read the reports, so you don’t have to. Which companies earned big, and which got burned big this quarter?
Under Armour at 3rd and long
The athletic apparel company just broke their 11-year growth streak, posting their first down quarter since 2006. In Q3 this year, UA’s sales decreased 4.5%, and profits shrank nearly 69%.
CEO Kevin Plank told investors the company was incredibly disappointed with [their] 2017 performance,” which has suffered stateside as consumers shift from buying performance athletic gear (UA’s bread and butter) to more fashionable “athleisure” apparel.
Trex decks see strong success
Trex, the decking company that accounts for over 80% of all residential decks and railings in North America, reported 20% higher-than-expected earnings per share, with a record $140m quarterly sales — and as a result, they were rewarded with a 25% jump in stock price.
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The man at the helm, James E. Cline, suspects that they’re reaping the rewards of a national ad campaign Trex launched 2 years ago and that they’re finally earning “influence with the consumer.”
Yep, all those decking #influencers…
Nintendo hits the right combo, doubles its forecasts
Buoyed by sales of their new Switch console, the Japanese gaming company now expects to net $1B in profits this year — nearly double last quarter’s forecast of $570m.
Their stock has been yo-yoing in the past several years, hinging on the unpredictable reception of its console. But the Switch is set to sell 14m units this year (in comparison, the Wii U took nearly 5 years to sell the same amount), and Nintendo’s stock now sits at $390, its highest in nearly a decade.