May 13 (Reuters) - Under Armour ( UAA ) on Tuesday
posted a smaller-than-expected drop in fourth-quarter revenue,
helped by the sportswear maker's efforts to streamline its
product lines that drove improved sales.
The Maryland-based retailer has been attempting to reset
its business to reverse last year's sales slump by focusing on
full-price sale of its products, lower promotions, inventory and
workforce reductions.
The company's quarterly revenue fell 11% to $1.18
billion from a year ago, compared with analysts' average
estimate of a 12.4% drop to $1.17 billion, according to data
compiled by LSEG.
The company, however expects revenue for the current quarter
to decline 4% to 5%, compared with analysts' expectations of a
1.9% fall, according to data compiled by LSEG.
It also refrained from providing an annual forecast, citing
uncertainty surrounding trade policies and the macroeconomic
environment, including potential demand-related and cost impacts
from tariffs.
(Reporting by Neil J Kanatt and Savyata Mishra in Bengaluru;
Editing by Shinjini Ganguli)