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CORRECTED-BUZZ-Under Armour tumbles as Q2 sales forecast comes in below estimates

Reuters
08/08
CORRECTED-BUZZ-Under Armour tumbles as <a href="https://laohu8.com/S/QTWO">Q2</a> sales forecast comes in below estimates

Corrects last bullet to say stock is down 19% YTD, not up

** Shares of Under Armour UAA.N down 14% at $5.95 premarket

** Apparel maker forecasts Q2 revenue below estimates, hurt by muted demand in North America due to tariff uncertainties

** Expects quarterly revenue decline between 6% and 7%, compared to estimates of a 2.9% drop, according to data compiled by LSEG

** Warns of a gross margin drop of 340 to 360 basis points in Q2, primarily due to supply-chain headwinds tied to anticipated tariff impact

** Posts first-quarter adjusted profit per share of 2 cents, below estimates of 3 cents

** Up to last close, stock down about 19% YTD

(Reporting by Anshi Sancheti in Bengaluru)

((Anshi.Sancheti@thomsonreuters.com))

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