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Under Armour stock declines on weak outlook, profit forecast

Yahoo Finance

Yahoo Finance Live’s Brad Smith discusses the decline in stock for Under Armour.

Video transcript

BRAD SMITH: All right, guys. Switching gears here. Shares of Under Armor are sinking this morning after the retailer gave annual sales and profit guidance that was lower than expectations. And inflation and lower demand impacted the quarter despite strong footwear sales, which jumped over 27% year-over-year. The retailer's inventory, that was still up 44%. We'll discuss what this means for the future of Under Armor later on in the show.