Under Armour Q1 2020 Reports 23% Decrease in Sales, Outlook Uncertain

Back in February, Under Armour predicted shortcomings for its 2020 profits due to weak North American sales and the coronavirus outbreak in China. Today, the American sportswear giant reported first-quarter losses and sales worse than expected as its business continues to be hit hard by the pandemic. Due to store closures and lockdown measures, revenue was down 23 percent to $930 million USD, seeing a revenue decrease of 28 percent in North America and 12 percent in international business."Since...