WEBVTT - Sweetgreen Drops, Under Armour Falls, Maplebear Rises on 3Q Outlook 

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>Let's bring in Lisa Matteo. Hi, Lisa, Hi, So good

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<v Speaker 1>to see you in the office here in studio. Usually,

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<v Speaker 1>of course she's on Bloomberg this weekend, so she's prepping

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<v Speaker 1>madly for the.

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<v Speaker 3>Upcoming shows for the show.

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<v Speaker 1>Yes, but you are also doing us a favor and

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<v Speaker 1>telling us about some stocks that are on the move

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<v Speaker 1>this morning.

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<v Speaker 3>Yeah, I'll start in the what's down first. We'll start

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<v Speaker 3>on the downside, all right, So fast food sal chain

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<v Speaker 3>Sweet Green. I love a good salad, but it's hard

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<v Speaker 3>when you're under a cyclost or outbreak. And that's what

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<v Speaker 3>their problem is right now. Their shares were down as

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<v Speaker 3>much as thirteen percent, but they cut their annual outlook.

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<v Speaker 3>They expect full year sales at their locations to fall

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<v Speaker 3>as much as eight percent this year, and that's compared

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<v Speaker 3>to a drop as much as four percent off for

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<v Speaker 3>comparable sales. So decrease command, yes, because of the outbreak,

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<v Speaker 3>but also the stock nearly twenty seven percent of its

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<v Speaker 3>value after that surge of cases. They say their supply

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<v Speaker 3>chain is not affected by the outbreak because restaurants don't

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<v Speaker 3>serve iceberg lettuce, and that's what this is affecting, is

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<v Speaker 3>the iceberg lettuce. But now there's another issue with jalapenos,

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<v Speaker 3>So that's the issue. Remove the jalapenos from the supplier

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<v Speaker 3>that was tied to a salmonella outbreak. So it's it's

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<v Speaker 3>a tough go for them. Chipotle Codoba they also of

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<v Speaker 3>course remove those peppers. But the bigger picture, I mean,

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<v Speaker 3>the company was already dealing with the declining traffic. They

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<v Speaker 3>were trying to do cheaper options. They were trying bigger

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<v Speaker 3>portion sizes, limited time offers, you know, doing all the things.

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<v Speaker 3>They even reduced the number of restaurant openings. But the

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<v Speaker 3>CEO said, the results are just not where they need

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<v Speaker 3>to be. What else are you looking at this morning, Lisa,

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<v Speaker 3>I'll give you another downer. Sorry morning. You know it

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<v Speaker 3>is under armor, okay, tick? Are you aa? Their shares

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<v Speaker 3>were down as much as about seven percent, so basically,

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<v Speaker 3>they forecast a sharper revenue decline than expected. They expect

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<v Speaker 3>sales to fall by mid single digits digital rate per year.

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<v Speaker 3>It was just softer man and key regions, particularly in

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<v Speaker 3>North America. You had Asia Pacific as well, Europe, the

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<v Speaker 3>Middle East. It's CEO is saying the company's dealing with

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<v Speaker 3>just challenging consumer demand environment. That's what they're saying. They've

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<v Speaker 3>been trying to kind of turn the business around after

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<v Speaker 3>declines in sales continue to decline. They've been cutting down

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<v Speaker 3>their product offering, reducing discounts, doing things like that. But

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<v Speaker 3>what's also adding pressure to them is the impact of tariffs.

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<v Speaker 3>We've been talking a lot about that. And the big

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<v Speaker 3>thing too is that separation from NBA star Steph Curry.

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<v Speaker 3>They had this twelve year partnership and now you know

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<v Speaker 3>what he's going on to other things, and that was

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<v Speaker 3>a big downturn for them.

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<v Speaker 1>Absolutely, last talk on your list.

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<v Speaker 3>Yeah, really quickly, Maple Bear doing business as instacarticker cart.

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<v Speaker 3>Their shares jumped as much as eleven percent of the

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<v Speaker 3>open That was the most since February, So this is

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<v Speaker 3>on the upside. Shares were up as much as ten

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<v Speaker 3>percent since then. Forecasts for third quarter gross transaction value

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<v Speaker 3>beat estimates, and what analysts are saying, I'll just point

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<v Speaker 3>to morgansty quickly. They said strengthen user growth. Spend per

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<v Speaker 3>user is a notable indicator of a healthy and growing

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<v Speaker 3>online grocery market. I don't use my instacar, but my

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<v Speaker 3>sister loves it and she uses it all the time.

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<v Speaker 2>I am a fan, you are. I am a fan.

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<v Speaker 1>I am a fan of not paying extra fees, so.

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<v Speaker 2>I don't use it too. Thank you. The Stock Movers

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<v Speaker 2>Report from Bloomberg Radio. Check back with us throughout the

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