Ender Armor forecasts lower yearly sales
Under Armour expects its annual revenues to decline by 4% to 6%, following a 9% drop in the U.S. market in the last quarter, due to weak demand for athletic apparel resulting from economic tensions and slowed consumer spending. The company is repositioning its brand by reducing its product lineup by 25%, focusing on higher-priced categories, and launching new products to attract Generation Z customers. Despite a 3% decrease in quarterly revenue to $1.10 billion, it has maintained its profit outlook, anticipating approximately $70 million in customs duty refunds, offsetting costs of around $35 million due to the conflict in the Middle East.
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