Under Armour (UA) Earnings: North America Revenue and Margins in Focus

Under Armour releases its results at 6:55 AM ET on August 7, before the regular session opens. With the company's market cap sitting at just $1.3 billion, the stakes for this report are unusually high — there is little cushion for further disappointment, and investors will be scrutinizing every line of the income statement for signs that the brand's recovery is on track.

North America revenue and gross margin are the two numbers that matter most this quarter. A meaningful drop in either would suggest the brand is ceding shelf space to rivals, while any uptick in gross margin would signal that management is making real progress on pricing discipline after a prolonged stretch of promotional activity.

Heavy discounting and rising inventory levels would be the clearest warning signs that Under Armour is still fighting — and losing — the shelf war. Conversely, inventory that is lean and margin that is stable or improving would give investors a reason to believe the turnaround narrative has some substance behind it.