Under Armour has lowered its full-year revenue forecast to a mid-single-digit percentage decline, down from a previous expectation of only a slight decline, sending shares down as much as 9% in early trading. North America revenue fell 9% to $609.8 million in the fiscal quarter ended June 30, and CFO Reza Taleghani said the company expects a more difficult consumer environment in North America and parts of Asia Pacific to continue through the second quarter. CEO Kevin Plank, who returned in 2024, has cut the product assortment by about 25% and spent $266 million on restructuring, with the turnaround plan set to be completed by the end of the year. Short interest stands at 23.98% of total float, and hedge fund ownership declined from 46 to 40 in the first quarter.
Under Armour Inc ANorth America sales fell 9% and full-year revenue outlook cut due to weaker consumer demand.
