Under Armour forecasts steeper annual sales decline on weak North America demand

Under Armour said it has incurred $266 million in restructuring and transformation expenses so far and expects to complete the plan by the end of the year.

"There isn't much evidence that its turnaround efforts are having a significant impact," Morningstar analyst David Swartz said.

Under Armour, however, maintained its full-year operating income forecast, helped by the cost-control measures.

The profit outlook includes an about $70 million benefit from refunds related to International Emergency Economic Powers Act (IEEPA) tariff costs in fiscal 2026 and a roughly $35 million hit related to the Middle East conflict.

The apparel maker's quarterly revenue fell 3% to $1.10 billion, compared with analysts' average estimate of $1.11 billion, according to data compiled by LSEG, while adjusted profit per share of 5 cents beat estimates.