(Reuters) – Sportswear maker Under Armour said on Monday it sees a bigger net loss in fiscal year 2025, due to higher-than-expected charges related to its restructuring plans.
The company expects a loss between 58 cents and 61 cents per share in fiscal year, compared with its prior forecast of 53 cents to 56 cents loss per share.
The retailer has been looking to turn around its business by cutting promotions, inventory and workforce, while focusing on selling more higher-margin items such as men’s apparel.
Shares fell 4% after the bell.
(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)
Comments