11:59 AM EDT, 09/10/2024 (MT Newswires) -- (Updates to include Under Armour's ( UAA ) recent stock movement in the headline and first paragraph.)

Under Armour ( UAA ) shares were down nearly 10% in recent Tuesday trading after the company said it now expects about $140 million to $160 million in pretax restructuring and related charges to be incurred in fiscal 2025 and 2026, higher than it initially estimated.

The company previously expected pretax restructuring and related charges of between $70 million and $90 million in connection with its fiscal 2025 restructuring plan.

Under Armour ( UAA ) said it has identified nearly $70 million of charges tied mainly to its decision to exit one of its primary distribution facilities in Rialto, California, by March 2026.

For fiscal 2025, the company now expects a loss of $0.58 to $0.61 per share, compared with $0.53 to $0.56 loss previously. It expects adjusted earnings at $0.19 to $0.22 per share. Analysts polled by Capital IQ are looking for $0.23.

Price: 6.50, Change: -0.69, Percent Change: -9.54