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Under Armour Faces a Challenging Demand Environment Ahead
['Vicki M. Young']
Footwear News
Under Armour Inc. sees softer demand ahead, mostly in North America and Asia-Pacific.
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On an adjusted basis, excluding one-time charges such as restructuring costs, the company said adjusted net income was $21 million, with adjusted diluted EPS of 5 cents.
By category, footwear sales in the quarter fell 7.7 percent to $245.3 million, while accessories sales were down 4.4 percent to $95.7 million.
Shares of Under Armour on Friday fell 2.1 percent to $6.12 in pre-market trading after its first-quarter report was released.