Under Armour Plunges as Former Highflier Posts First Sales Drop
- North America revenue slides, offsetting international gains
- ‘2017 has been a reset year’ for the company, CEO Plank says
Under Armour Plummets on First-Ever Sales Decline
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Under Armour Inc. posted its first sales decline as a public company, renewing concerns about a brand that was long seen as the sportswear industry’s biggest growth story.
A continuing slump in its North American business offset growth elsewhere, leading the company to slash its full-year revenue and earnings forecasts. Sales in the third quarter also trailed analysts’ estimates, sending the shares down the most since January in New York trading Tuesday.