Under Armour Class A forecast second-quarter revenue below estimates on Friday as the sportswear maker grapples with muted demand in North America due to still-high inflation and tariff uncertainty, sending its shares down 15% in premarket trading.

The Maryland-based retailer's attempts to reset its business after sales declined over the last two years have been in jeopardy, with consumer spending weakening in the U.S. as the Trump administration's fluctuating tariff policies fan uncertainty.

Under Armour in May announced plans to raise prices, risking demand for its apparel as customers look for cheaper options.

On Friday, the company said the forecast includes considerations for ongoing uncertainty around trade policies and the broader macroeconomic environment, including potential demand and cost impacts from tariffs.

The company now expects quarterly revenue to decline between 6% and 7%, compared with analysts' average estimate of a 2.9% drop, according to data compiled by LSEG.