Under Armour is calling for sales to drop in 2020, as it struggles to rally shoppers behind its sweat-wicking shirts and training sneakers, faced with heightened competition from Nike and Lululemon.
The company also said Tuesday it could take a hit during the first quarter of fiscal 2020 of as much as $60 million in lost sales from the deadly coronavirus.
Its shares were recently tumbling more than 17%, after Under Armour’s fourth-quarter sales came up short of analysts’ estimates.
Here’s how Under Armour did for the quarter ended Dec. 31, compared with what analysts were expecting, based on a poll by Refinitiv:…
Continue Reading: cnbc.com
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