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Under Armour shares tank on sales miss, sees $50 million to $60 million hit from coronavirus

February 11, 2020

Via: CNBC

Under Armour shares plummeted Monday morning after the company reported sales that missed analysts’ estimates during the holiday quarter and issued a bleak outlook.

It said it is facing “ongoing demand challenges” for its athletic apparel and sneakers, and is calling for sales to be down a low-single digit percentage in fiscal 2020. That includes a high-single-digit drop in sales in North America, Under Armour said. Analysts had been calling for overall sales to be up 4.2% for the year.

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