Under Armour Shares Plummeted On Tuesday Amid A Record Decline

10.31.17 2 years ago

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It was more bad news for the sports shoe and apparel industry on Tuesday when Under Armour became the latest of the Big 3 companies to underscore a troubling trend in the marketplace.

Under Armour’s stocks plummeted 17 percent among its first reported quarterly revenue losses in more than a decade and created a market scare that dragged down other industry giants with it.

What’s worse is that the company – which boasts Steph Curry as its most high-profile endorser (and defender) – doesn’t expect to recover any time soon as its own Chief Executive Kevin Plank forecast a dire outlook that will extend well into next year.

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