(Reuters) -Apparel maker Under Armour ( UAA ) forecast its annual revenue and profit below analysts' expectations on Thursday, a sign of soft demand for its sportswear in the U.S. as consumers cut back on discretionary spending in the face of sticky inflation.

Shares of the company, which have fallen 22% so far this year, were down 15% in premarket trading.

The company has also outlined a restructuring plan and expects to incur total estimated pre-tax restructuring and related charges of about $70 million to $90 million.

"Due to a confluence of factors, including lower wholesale channel demand and inconsistent execution across our business, we are seizing this critical moment to make proactive decisions ... which will pressure our top and bottom line in the near term," said CEO Kevin Plank.

Under Armour ( UAA ) expects its 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.

The company also expects fiscal 2025 earnings to be between 18 cents and 21 cents per share, compared with analysts' expectation of 59 cents per share.