Under Armour's turnaround continues with revenue down 5%, aiming for stability by 2027

Under Armour is still in a prolonged turnaround phase, with management targeting stabilization rather than growth by fiscal year 2027. The company's recent financial results show a 5% decline in Q3 revenue and a 310 basis point drop in gross margin to 44.4%. Restructuring efforts are nearing completion next quarter, having already achieved significant cost cuts and product line simplifications. Despite ongoing challenges, the stock is considered a buy due to limited downside risk, strong brand value, and potential positive surprises.