Under Armour Sinks After Dismal Forecast Rattles Investors
- Revenue last quarter increased at slowest pace since 2009
- Sports-apparel maker is facing raft of new competition
Under Armour Sinks After Dismal Forecast
Under Armour Inc. tumbled the most in nine years after its sales forecast missed analysts’ estimates by a wide margin, signaling that the sports-apparel maker’s days of rapid growth may be drawing to a close.
Sales this year will increase as much as 12 percent to nearly $5.4 billion, the Baltimore-based company said in a statement Tuesday. That trailed analysts’ $6.05 billion average estimate and would be Under Armour’s smallest annual gain since it went public in 2005.