Pursuits
Under Armour Tumbles After Forecast Renews Fears of Slowdown
- Company is expanding at slowest pace since the last recession
- Push into athletic footwear also is hampering profit margins
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Under Armour Inc. suffered its worst stock decline in more than seven years after delivering a disappointing long-term forecast, renewing fears that the athletic brand’s enviable growth streak is finally sputtering.
The company said on Tuesday that it expects revenue to increase in the low 20 percent range during 2017 and 2018. That would be the worst performance since 2009, the year the last U.S. recession ended.