Under Armour, Retailers Rise as Supreme Court Strikes Down Tariffs; New Levies Planned

Shares of Under Armour (UAA), Caleres, PVH, Carter's, and Kontoor Brands rose on Feb. 20, 2026, after the Supreme Court struck down Trump-era tariffs. The ruling is expected to lower operating costs for manufacturers and retailers reliant on global supply chains, offsetting earlier concerns regarding slowing economic growth. However, the Trump administration announced plans to impose a new 10% global tariff. Under Armour shares surged to a 52-week high of $8.13, up 53.6% year-to-date. The stock remains volatile, with 19 moves exceeding 5% over the last year. On Feb. 10, 2026, shares dropped 7.4% after Citigroup downgraded the stock to Sell, citing competitive pressures and weak direct-to-consumer traffic.