TRANSCRIPT 🔗
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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
00:00:08
Speaker 2: The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.
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Speaker 1: Let's bring in Matt Griffin right now. He is checking out some stocks that are on the move.
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Speaker 2: Matt get Us started, what are you looking.
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Speaker 1: At looking at I've been looking at one consumer name, All Morning Scarlet, that is under Armor. They are lower after forecasting a sharper than expected drop in revenue this year. So that's stock ticker UA down more than five percent. The athletic retailer expects their sales to fall by a mid single digit percentage for the year. They saw only a slight decline before. And they say they're grappling with a challenging consumer environment across a lot of the world, I mean North America, Asia, Europe. The list of regions that they laid out goes on. It doesn't necessarily mean that the whole sportswear industry, though, is doing badly. This company has been in the middle of its own turnaround effort. They're, you know, dealing with the separation from Steph Curry. For example. Investors have rewarded that lately But what Bloomberg Intelligence says about this report is it shows they're not really benefiting as much as you'd expect from some of these big sporting events. So consumers are spending on sportswear, but they're going to Nike, maybe they're going to Adidas instead. That weighing on under armour today. Another decliner is Sweet Green, the fast food salad chain, slashed an outlook for same store sales after the outbreak of illness caused by the Cyclospora parasite. That stock is ticker SG. It's down thirteen percent and bringing a year to date decline to about twenty five percent. So the salad chain they now expect their same store sales to follow as much as eight percent this year. That's a decline about twice as wide as they previously forecast and again really citing the paras outbreak there. DA Davidson said, there are good signs under the hood here about their ongoing turnaround efforts, so you know they're investing in promotions, they're trying to add some lower cost items to the menu to address some consumer concerns about the business. But what those analysts said is the traffic improvement from that has just been derailed for now by these health concerns. Worth noting Sweet Green, they say their supply chain has not been affected. They don't even serve the Iceberg lettuce that's been connected to the outbreak, but consumers are generally very cautious about fresh produce right now.
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Speaker 2: The stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, Catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.