Under Armour's stock plunged more than 10 percent Wednesday as Wall Street was disappointed by the retailer's financial targets, especially in the U.S., where the company has been struggling to regain lost momentum.
During an annual meeting with investors, Under Armour narrowed its earnings outlook for fiscal 2018 and now is calling for adjusted earnings per share to fall between a range of 21 to 22 cents, compared with a prior range of 19 to 22 cents.
Looking to fiscal 2019, it said earnings per share are expected to fall within a range of 31 to 33 cents, while analysts were calling for 35 cents, according to a poll by Refinitiv.
Sales in 2019 are forecast by the company now to be up 3 to 4 percent, with results "relatively flat" in North America. Analysts, however, were expecting growth of 5 percent.
