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Estimates : Profit was expected to tumble 34% to 19 cents a share on a 1.4% sales gain to $1.49 billion, according to Zacks Investment Research.
Results : Earnings fell 24% to 22 cents as sales unexpectedly sank 5% to $1.406 billion.
Outlook: Under Armour now sees full-year EPS of just 18-20 cents vs. the consensus for 37 cents. Along with Q3's 3-cent beat, that implies the holiday Q4 will be break-even to a 2-cent loss vs. analysts' expectations for 21 cents. Under Armour now forecasts full-year sales up at a low single-digit percentage rate, citing North American weakness.
"While our international business continues to deliver against our ambition of building a global brand, operational challenges and lower demand in North America resulted in third quarter revenue that was below our expectations," said Under Armour Chief Executive Kevin Plank in a statement. "Based on these issues in our largest market, we believe it is prudent to reduce our sales and earnings outlook for the remainder of 2017."
FBR Capital Markets analyst Susan Anderson reiterated her sell rating and 14 price target.
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Stock : Shares crashed 23.7% to 12.52 in the stock market today , hitting a four-and-a-half-year low. The stock's been on a downturn since July, spending almost all of the past several months below its key 50-day moving average, and not a single day in 2017 above its longer-term 200-day line.
Nike's recently unveiled retail plans - for "pant studios" and strategic in-store partnerships that highlight Nike products - illuminate the obstacles that retailers face today. The major players, including Nike and Adidas ( ADDYY ), have been developing manufacturing methods to get products to store shelves faster.
Meanwhile, Under Armour has reportedly been thinking about pulling out of a number of categories , including tennis, outdoor gear and fishing, according to the Wall Street Journal.
Dow component Nike eased 0.5% to 54.99. Europe's Adidas, which has made big gains in the U.S. in the last few years, dipped 0.1% to 111.33.