(Reuters) -Under Armour forecast annual revenue and profit below Wall Street estimates on Thursday, as the sportswear maker faces a demand decline and rising tariff costs.
Shares of the company, which named Reza Taleghani as its finance head after David Bergman stepped down, were marginally lower in premarket trading.
Taleghani will take charge as CFO in February 2026, while Bergman will remain with the company through the first quarter of fiscal 2027, Under Armour said.
The Maryland-based retailer has been attempting to reset its business under founder Kevin Plank, who returned as CEO in March after sales declined over the last two years.
However, weak consumer spending in the U.S. driven by President Donald Trump’s fluctuating tariffs and their impact on imported goods, weighed on the company.
The company now expects FY2026 revenue to decrease 4% to 5%, largely below analysts’ average estimate of a 4% decrease, according to data compiled by LSEG.
It sees annual adjusted profit per share between 3 cents and 5 cents, compared with analysts’ average estimate of 6 cents per share.
Revenue for the third quarter fell 5% to $1.33 billion, compared with analysts’ average estimate of $1.31 billion.
(Reporting by Sanskriti Shekhar and Neil J Kanatt in Bengaluru; Editing by Pooja Desai)
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