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Under Armour's Results Rocked by Sports Authority's Demise

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Under Armour Slides After Sales Forecast Trails Estimates
Photographer: Luke Sharrett/Bloomberg
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Under Armour Inc.’s second-quarter profit fell 57 percent, hurt by the bankruptcy and liquidation of one of the largest sellers of its products.

Net income dropped to $6.34 million from $14.8 million a year earlier, the Baltimore-based company said in a statement Tuesday. Excluding some items, profit was 4 cents a share, meeting analysts’ average estimate.