Question
Please read the article attached.Under Armour Is Subject of Federal Accounting Probes - WSJ.pdf Under Armour, Inc., has said it is cooperating with Justice Department
Please read the article attached.Under Armour Is Subject of Federal Accounting Probes - WSJ.pdf Under Armour, Inc., has said it is cooperating with Justice Department and SEC investigations into its revenue recognition which began in 2017. The company made this disclosure after the Wall Street Journal published this article based on reports from unnamed sources familiar with the matter and the recent questioning of people located in Baltimore, MD, where the company is located. UnderArmour was founded by Chairman and CEO Kevin Plank, a former University of Maryland football playerin his grandmothers basement with sweat-wicking compression apparel. He built the company into a global brand with $5 billion in revenues. However, sales growth has fallen since Under Armour missed its sales targets in the final quarter of 2016. Questions:
What revenue trends did UnderArmour show until 2016?
What happened in the quarter ended January 31, 2017?
How did the UnderArmour stock price react to the results for the quarter ended January 31, 2017?
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