Under Armour Inc. has lowered its annual revenue expectations, now projecting a mid-single digit percentage sales decline for the full year. The revised outlook reflects deteriorating demand across several key geographic markets, including North America, Asia-Pacific, and Europe and the Middle East, according to the company's announcement Friday.
The company attributed the softer demand to a challenging consumer environment, with Chief Executive Officer Kevin Plank addressing the headwinds in a statement. The more conservative forecast signals that athletic retailers continue to face headwinds from consumer spending pressures and competitive market dynamics, particularly as inflation and economic uncertainty persist across global markets.
The downward revision underscores broader challenges facing the apparel and athletic wear sector as retailers navigate shifting consumer preferences and reduced discretionary spending. Under Armour's adjusted guidance reflects management's reassessment of near-term demand trends and suggests the company may need to adjust its operational strategy to align with the weaker revenue environment.