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.