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Under Armour forecasts annual sales below estimates
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Under Armour forecasts annual sales below estimates
May 16, 2024 5:05 AM

May 16 (Reuters) - Apparel maker Under Armour ( UAA )

forecast its annual revenue below analysts' expectations on

Thursday, signaling soft demand for its sportswear in the U.S.

as consumers cut back on discretionary spending in the face of

sticky inflation.

The company also outlined a restructuring plan and expects

to incur total estimated pre-tax restructuring and related

charges of about $70 million to $90 million.

The company expects fiscal 2025 revenue to be down at a low

double-digit percentage rate, compared with analysts' average

expectation of a 2.1% rise to $5.83 billion, according to LSEG

data.

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