Under Armour forecasts annual sales, profit below estimates; announces CFO change

Under Armour forecast full-year revenue and profit below Wall Street estimates on Thursday as the sportswear maker faces declining demand and higher tariff-related costs.

The Maryland-based retailer has been attempting to reset its business under founder Kevin Plank, who returned as CEO in March after sales declined over the last two years.

However, cautious consumer spending amid higher prices from the Trump administration’s import tariffs has weighed on the company.

Under Armour also said…