>> Shares of Under Armour getting trampled Wednesday. The stock falling as much as 12% after a disappointing outlook at the company's investor
The former Wall Street darling is warning international sales will only grow modestly next year and sales in North America will likely be flat. That forecast coming in below what Wall Street had been pricing in.
And that's not the only disappointment. Under Armour unveiled a new five year plan that shows the days are gone of posting slam dunk financial metrics, that had some wondering if it was poised to topple Nike. In a sobering presentation, CEO Kevin Plank said the plan centers on protecting the Under Armour brand, which suffered a setback this year.
Due to heavy promotional discounting and an overall sense the company had lost its way. Shares of Under Armour slumping for a fourth day in a row to a low not seen since 2017.