Under Armour預警銷售下滑加劇 關稅成本料增一億美元
體育用品品牌Under Armour週五表示，本季度銷售額下降情況將進一步惡化，並警告需求疲弱，加上全年關稅相關成本將增加1億美元，導致該公司股價下跌約20%。
過去兩年，Under Armour一直難以提振市場需求，近月因特朗普政府不斷變動的關稅政策，令其復甦計劃屢遭阻礙。這間總部位於馬里蘭的公司去年三月重新任命創辦人Kevin Plank為行政總裁，希望重振業務。
市場分析師Emarketer的Sky Canaves指出：「令人擔憂的是，儘管已經進入重組計劃一年，但收入下滑和盈利困難的跡象依然未見好轉。」
Plank亦透露，Under Armour正考慮對「已有一定議價能力的核心消費群」調高價格。
公司預計本季度毛利率將因可能出現的關稅及供應鏈問題下滑340至360個基點，但外匯走勢有利及價格調整將部分抵銷跌幅。
截至五月，Under Armour約30%的商品採購來自越南，15%來自印尼。由於特朗普政府對越南商品徵收20%關稅、印尼商品徵收19%關稅，令公司直接面臨成本壓力，但目前仍不確定這些徵稅是否最終定案。
首席財務官Dave Bergman在電話會議中表示：「鑑於今年新增的關稅成本及相關需求影響，我們預計調整後的營業利潤將大約只及2025財年的一半。」
公司同時預測本季度收入將下跌6%至7%，遠低於分析師平均預期的2.9%跌幅。2024年6月底止第一季度，收入為11.3億美元，下降4%，符合預期；而調整後每股盈利為2美分，低於預期的3美分。
評論與啟示
Under Armour的情況反映出美國中階運動服飾品牌在全球貿易環境不確定性下遭遇的嚴峻挑戰。特朗普政府的關稅政策不但增加了成本壓力，也擾亂了供應鏈穩定性，令品牌難以有效控制價格和庫存。品牌重組一年多仍無明顯回升，顯示其核心競爭力和市場定位未能迅速適應消費者需求變化。
更值得注意的是，Under Armour正嘗試向有定價能力的「嵌入式消費者」提高價格，這反映出在成本上升的壓力下，品牌正尋求轉嫁部分成本，但這策略的成效依賴於消費者對品牌忠誠度及其價格敏感度，風險不容忽視。
除此之外，公司大量依賴越南和印尼的製造基地，說明其供應鏈地理分布仍受限於成本考慮，卻因政策變動面臨不小風險。未來品牌或須更積極多元化供應鏈，甚至在產品定位及市場策略上創新，以避免重蹈覆轍。
總括而言，Under Armour的困境提醒投資者和業界，全球經濟與政治環境的變化對跨國零售品牌的影響深遠，單靠重組和價格調整難以根本扭轉頹勢。長遠來看，品牌必須從產品差異化、市場精準定位及供應鏈彈性等多方面入手，才能在激烈競爭中穩住陣腳。
以上文章由特價GPT API KEY所翻譯及撰寫。
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![{
"intro": "Create an ultra realistic 8K UHD DSLR photo based on the attached image as a reference of facial features, maintaining 100% likeness.",
"subject": {
"identity": "A stylish beautiful woman portrayed as Cleopatra performing a sacred night-time royal dance, embodying divine seduction, power, and celestial authority.",
"angle": "Full-body high-fashion editorial portrait captured at a cinematic 3/4 angle, ultra-crisp clarity with no blur.",
"pose": {
"body_position": "She is captured mid-dance inside a temple courtyard at night, her body angled gracefully, hips grounded, torso lifted, creating a powerful and sensual silhouette.",
"movement": "Her arms are raised in slow ceremonial motion while one leg steps forward, fully revealing her feet and lower legs as part of the ritual stance.",
"expression": "A calm, hypnotic, commanding gaze directed toward the camera—quiet dominance wrapped in sensual mystery."
}
},
"appearance": {
"outfit": "An ultra-bongga Cleopatra couture gown with an all-crystal bodice that fits like jeweled armor. Thousands of hand-set crystals, diamonds, and glass stones in gold, champagne, clear, and iridescent tones form sacred Egyptian motifs—cobras, sun disks, lotus symbols—entirely through crystal placement. The neckline is daring yet elegant, supported by invisible illusion mesh. From the waist, the skirt opens into flowing sheer silk and organza panels in ivory and soft gold, designed with a high front opening that intentionally exposes her legs and feet during movement. Crystal chains and beaded fringe sway rhythmically with every step, enhancing sensual motion.",
"accessories": "A dramatic Egyptian ceremonial headpiece with gold and crystal detailing, an oversized layered gold collar necklace, sculpted crystal arm cuffs, finger armor rings, a crystal-and-gold waist belt, and delicate gold anklets accentuating her bare feet.",
"hair": "Her hair is sleek, glossy, and perfectly controlled, styled to balance the weight of the crystal headpiece while allowing elegant movement.",
"makeup": "Ultra-glam, colorful Egyptian night makeup—bold elongated black kohl eyeliner, intense eyeshadow layered in turquoise, emerald, sapphire blue, violet, and metallic gold. Beneath the eyes, intricate ceremonial ink drawings in fine black and gold lines inspired by ancient Egyptian markings. Skin is luminous with molten-gold highlights, brows strong and defined, lips finished in a sensual nude-bronze satin."
},
"props": {
"ritual_elements": [
"Burning incense bowls releasing thick aromatic smoke",
"Golden sistrum placed near the dance space",
"Tall ceremonial torches lining the temple floor"
]
},
"background": {
"macro_environment": "A grand ancient Egyptian temple courtyard at night, reserved for sacred royal rituals.",
"midground_details": "Towering sandstone columns, massive statues of Isis and Hathor, carved temple walls, flowing linen drapes, and ceremonial platforms illuminated by firelight.",
"micro_elements": "Torch flames reflecting off crystal surfaces, fine dust particles glowing in the night air, incense smoke wrapping around her legs and feet, detailed stone floor textures beneath her bare feet, crystal fringe in motion, and sharply defined shadows—everything rendered in extreme detail with zero blur."
},
"lighting": {
"type": "Cinematic night lighting using torches, oil lamps, and subtle moonlight.",
"effect": "Firelight ignites the crystal bodice with prismatic sparkle while moonlight softly outlines her legs and feet, creating a dramatic, sensual, and divine atmosphere."
},
"camera": {
"camera_type": "DSLR",
"resolution": "8K UHD",
"lens": "50mm prime lens",
"aperture": "f/8 for full-body and environment sharpness",
"iso": 100,
"shutter_speed": "1/200s to freeze elegant motion clearly",
"focus": "Extreme sharp focus on crystal bodice, facial features, legs, feet, and temple details, no bokeh, no blur"
},
"style": "Ultra high-fashion editorial, night temple ritual, all-crystal couture, sexy yet sacred, ancient Egyptian royalty reimagined, cinematic realism, extremely detailed, sharp, iconic"
}](https://ssfuture.shop/wp-content/uploads/ai_gen_1766006158-167x300.png)