Under Armour says revenue could be down as much as 20% to 25% for the rest of the year $UAA
) said it expects margins to be pressured for the rest of the year on the back of increased promotions, even as online demand helped the sportswear maker post a smaller-than-expected loss.
“Given the dramatic impacts across the retail landscape due to store closures, and inability to reduce supply as fast as demand, we’re anticipating that a highly promotional environment will materialize in the second half.” However, with increased promotional activity expected in the second half of the year, the company is anticipating more sales to off-price stores.
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